Cut petroleum prices


HANDING out relief from one hand and taking it back from the other is not understandable. This is what has happened during the last few days. After taking notice of increase in the price of roti, the Government reduced the gas tariff of Tandoors in order to revert back the price of the bread to the old levels but on the same evening when this decision was taken, an oil bomb was dropped on the consumers by increasing petroleum products prices up to 10% almost just two weeks before Eidul Azha.
This has taken the petroleum prices to their highest mark in the country with international crude market hovering only at $ 63 per barrel-almost 57 percent lower than the 2008 highest record of $ 147. In our view, there was no justification for the raise in petroleum prices at this moment when the international oil prices are standing at reasonable point. Government is currently charging seventeen per cent general sales tax on all petroleum products. In addition to it, it has also been charging petroleum levy ranging between Rs. 14-18 on petrol and HSD and Rs. 3-6 per litre on Kerosene and LDO. Increase in petroleum prices will only add to the worries of common man as it will shoot up the cost of transportation of goods and ultimately the prices of essential commodities will go up. Currently government is also in position of providing relief to the masses on petroleum products given the fact that it is getting oil on deferred payment from Saudi Arabia. We will, therefore, ask Prime Minister Imran Khan to take notice of the recent increase in petroleum prices as he did in the case of roti price and order their reversal as a gift to the people on Eidul Azha.

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