The Oil and Gas Regulatory Agency (OGRA) has proposed that the federal government massively raise fuel prices to Rs. 83.5 per litre for petrol and Rs. 119 for diesel.
OGRA sent a summary to the Division of Petroleum of a massive hike at fuel prices in Pakistan on April 16th.
The sources said the proposed increase was based on 70% GST and 30 rupees per litre. The prevailing tax is Rs 30 per litre and 17 % GST for petrol and diesel.
The Authority has proposed imposing an increase of Rs 83.5 per litre on petrol on a whole duty and tax basis, while Rs 119 per litre on diesel has been recommended.
OGRA is said to have proposed increasing the price of petrol to Rs 21.53 per litre under the current tax rate, Rs 51.3 on diesel while Rs 77. Based on total taxes and duties, a 56% increase in kerosene oil has been proposed.
For other petroleum products, an increase of Rs 77.31 for light diesel, Rs 36.5 for kerosene oil and Rs 38.89 for light diesel at the total rate and duty has been proposed.
