ISLAMABAD: The government decided on Monday not to increase oil prices for the next 13 days.
This has come as a break from the continued price increases over the past five consecutive fortnights. This despite an increase in international oil prices over the past 15 days. Goodbye elections to seven seats in the national and provincial assemblies are expected to take place over the next 13 days to complete the constituency for the senatorial elections set for March 3.
To keep prices at the existing level, the Petroleum Tax (PL) has been reduced from Rs3.07 on gasoline to Rs17.97 per liter instead of Rs21.04. The PL on HSD is down from Rs3.75 per liter to Rs18.36 instead of Rs22.11. Also, the PL on kerosene has dropped from Rs2.78 per liter to Rs2.76 instead of Rs5.54 per liter currently. The PL on LDO was also reduced from Rs3.26 to Rs3.65 from Rs 6.91 per liter.
Prime Minister Imran Khan rejected a summary by the Oil and Gas Regulatory Authority (Ogra) for a proposal to increase the prices of petroleum products to relieve the population, a statement issued by the Prime Minister’s Office said .
He said Ogra recommended an increase of 14.07 rupees per liter of gasoline, 13.61 rupees in high speed diesel (HSD), 10.79 rupees in kerosene and 7.43 rupees in light diesel (LDO) .
The government will do everything possible to bring relief to the population, according to the press release quoted by the Prime Minister. As such, the ex-depot price of HSD and gasoline would remain unchanged at Rs 116.07 per liter and Rs 111.90 per liter, respectively. Likewise, the ex-depot price of kerosene and LDO would remain at the current rates of Rs 80.19 per liter and Rs 79.23 per liter, respectively.
The government has increased the prices of petroleum products every fortnight since November 30, 2020 to pass on the impact of the rise in international oil prices. Since then, the price of HSD has increased by 14.67 pc (Rs 14.85 per liter), while the price of gasoline has increased by 11.13 pc (Rs 11.20 per liter).
Likewise, kerosene jumped 18.6 pc (Rs 14.90 per liter) while the LDO of over 26 pc (Rs 16.37 per liter) in five fortnights.
According to government instructions, Ogra is required to calculate oil prices based on the 17% general sales tax and the maximum gasoline levy allowed under the law at Rs 30 per liter on the HSD and gasoline.
One official said the government had already collected about 33 percent of revenue above the targeted petroleum revenue through the petroleum tax in the first six months of the current fiscal year. Therefore, he was comfortable with minor adjustments to the oil tax. According to the Ministry of Finance, oil tax collection amounted to Rs275bn in the first six months against an annual target of Rs450bn.
In recent months, the government has changed the petroleum tax rates instead of the GST, as the tax stays in the federal fund while the GST goes to divisible common taxes and therefore around 57% of the shares are seized by the provinces.
Posted in Dawn, February 16, 2021
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]