business
Monday Sep 27 2021
By
BDBusiness Desk

Price of petrol still cheaper in Pakistan, says Hammad Azhar

By
BDBusiness Desk
Federal Minister for Energy Hammad Azhar speaks on the floor of the National Assembly in this undated photo. — Twitter/File
Federal Minister for Energy Hammad Azhar speaks on the floor of the National Assembly in this undated photo. — Twitter/File

  • Energy minister says "Price of petrol worldwide increased by 40% and in Pakistan, prices went up by 16%".
  • "The levy on petrol is Rs5 which was around Rs30 in PML-N's tenure," says Azhar.
  • Assures every effort is being made to "save the poor from the effect of global inflation."


ISLAMABAD: Federal Minister for Energy Hamad Azhar said the price of petrol in Pakistan is "very low" adding that at present, less tax is being collected on petrol than it was collected ever before.

Addressing a Senate session Monday, the minister highlighted that the price of petrol in the international market increased by 40% and whereas in Pakistan, the petrol price recorded an increase of 16% only. 

With the tax relief of Rs465 billion, the price of petrol was kept low, he added. 

"During the PML-N's tenure, the benefit of lower prices was not given to consumers," he stated.

Furthermore, the minister said that the levy on petrol is Rs5 now whereas the same was Rs30 during the PML-N's tenure. 

"Currently, less tax is being collected on petrol than ever before, Azhar said, adding that comparatively, the price of petrol in Pakistan is very low.

The federal minister said that food prices have gone up all over the world but in Pakistan "every effort is being made to save the poor from the effects of global inflation."

On September 15, the government jacked up the price of petrol by Rs5 "owing to fluctuations in petroleum prices in the international market and exchange rate variation".

Petrol, with an increase of Rs5, is now available at Rs123.30 per litre, whereas high speed diesel, with an increase of Rs5.01, is now available at Rs120.04 per litre.

In addition, the cost of kerosene is Rs5.46 more and is thus priced at Rs96.26 per litre, while light diesel oil became Rs5.92 dearer to cost Rs90.69 per litre.