PM Imran Khan rejects increase in the prices of petroleum products summary

ISLAMABAD: Prime Minister Imran Khan on Monday rejected in the public interest a summary seeking increase in the prices of petroleum products. As such, the ex-depot prices of petroleum products would remain unchanged for the time being. 

“The prime minister has rejected an energy ministry’s summary that recommended an increase in the price of petrol by Rs11 and diesel by Rs14 in the public interest”, the Prime Minister Office said in a statement.

وزیراعظم نے وزارت توانائی کی طرف سے بھجوائی گئی سمری جس میں پٹرول 11 روپے، ڈیزل 14 روپے بڑھانے کی سفارش کی گئی تھی، کو عوامی مفاد میں مسترد کردیا کیا۔ pic.twitter.com/uTZhT17VQL

— Prime Minister's Office, Pakistan (@PakPMO) January 31, 2022

The premier was quoted as saying that petroleum prices were increasing across the globe due to rising inflationary trends but the government of Pakistan will take every possible effort to protect the people of Pakistan from inflation. “Therefore, the prime minister has delayed the summary,” the PM Office statement said, adding the government will absorb the impact of higher international oil prices and try to safeguard the public from additional burden.

The government has been increasing petroleum levy and GST on an alternate fortnight basis in recent months as part of the dialogue with the IMF but had slightly reduced GST on major products on Jan 15 as well. 

The rate of petroleum levy has gone up by Rs4 on the first of every month with the commitment with the IMF to take it to a maximum of Rs30 per litre.