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17 October, 2021 I 10 Rabi-ul-Awwal, 1443 I Rs 15.00 I Vol XII No 109 I 12 Pages I Lahore Edition
GOvt jacKs up petrOleuM prIces by rs 12.44 per lItre g
PETROL PRICES INCREASING ACROSS THE GLOBE, SAyS TARIN AS PRICE HITS RECORD HIGH IN PAKISTAN isLaMabaD
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AhmAd AhmAdAni
HE federal government on Saturday raised the price of petrol by Rs10.49 per litre and that of high speed diesel (HSD) by Rs12.44 per litre with immediate effect ostensibly to pass on the impact of higher international market.
According to a notification issued by the Finance Ministry, the new price of petrol, effective from Oct 16, is Rs137.79 per litre while high speed diesel will sell for Rs134.48. Similarly, the prices of kerosene and light diesel oil (LDO) were increased by Rs10.95 and Rs8.84 per litre respectively. The new price of kerosene is Rs110.26 per litre and that of LDO is Rs108.35 per
GlObal rates, nOt IMF reasOn behInd petrOleuM prIce hIKe: haMMad azhar MoNitoriNg report Federal Minister for Energy Hammad Azhar on Saturday said the increase in petrol prices in Pakistan stems from the demand-supply crisis in the international market, “not because of the International Monetary Fund (IMF)”. “Increasing the prices of petroleum products is a most difficult task for the government,” he said. He said that the incumbent government has reduced the petroleum levy from 30 per cent to 5.5pc. Speaking on a local TV channel, the energy minister said that the price hike was
approved on the recommendation of Oil and Gas Regulatory Authority (OGRA) and that he was unaware of whether the increase may be more or less than the proposed price. “The Ministry of Finance will know about the actual numbers,” he added. Article continues after this advertisement he minister explained that the price of petrol has gone up globally, and that “the price of petrol is even higher in countries where there is more poverty than Pakistan.” “The government’s capacity to provide relief in the prices of petroleum products is dwindling,” he added.
litre. “In the current scenario, the government has absorbed the pressure and provided maximum relief to the consumers by keeping Petroleum Levy and sales tax to minimum. Therefore, prices worked out by OGRA have been approved,” the finance ministry’s notification stated. Article continues after this advertisement The notification stated that oil prices in the international market had risen around $85 a barrel which was the highest since October 2018. “Importantly, entire energy chain prices have witnessed a strong surge in the past couple of months due to higher demand for energy inputs and supply bottlenecks,” it further stated. It is pertinent to mention here that the government had raised the price of petrol by Rs4 per litre at the start of the month as well. The masses have already been bearing a heavy brunt of significant hike in daily use items, life saving medicines, electricity etc. whereas this massive hike in POL prices would add to the common man’s problems. Meanwhile, speaking with Profit, industry experts said that the government could have avoided passing on a massive hike in the prices of petrol and diesel if it had decided to suspend the
10 per cent custom duty which was imposed in their per litre prices. “The hike could have been postponed for the remaining fifteen days of the current month if the government had suspended custom duty on their prices,” they said. They added that the custom duties were imposed to use the amount in the up-gradation of oil refineries and it was expected that the collected amount would be provided to refineries from the next year. The government would now earn more revenue through GST collection from October 16, till the end of the month on the sale of petrol and diesel compared to the revenue collection collected in rupees on account of GST from October 1 till October 15. The government has been earning a major chunk, roughly 25pc, of total revenue generation from the oil sector. Custom duty, IFEM, petroleum levy,
Maryam Nawaz urges people to send Imran Khan packing g
RIDING ANTI-GOVERNMENT wAVE, MARyAM HIT OUT AT KHAN'S INTEGRITy MiaN abrar
The PML-N Vice President Maryam Nawaz Saturday played on the anti-government emotions due to the extraordinary rise in petroleum prices, saying that Prime Minister Imran Khan’s PTI has been topped the list in Pandora Papers. “The nation was told Imran Khan’s name isn’t included in the list .. have you ever heard that the leader of a pack of thieves was an honest person. It’s time now for the people of Pakistan to send Imran Khan home?” she remarked while addressing a rally of Pakistan Democratic Movement (PDM). Flanked by PML-N leaders Marriyum Aurangzeb and Rana Sanaullah, Maryam spoke while PDM chief Maulana Fazlur Rehman arrived at the venue later. The rally, held at the Dhobi Ghat ground, was announced a while back by the Opposition alliance, with another to follow on October 31 in Dera Ismail Khan. Maryam spoke of PML-N leader Nawaz Sharif, who is in London and has been de-
clared an absconder by Pakistani courts, saying that Sharif has “left everything in the hands of God”. “when a person leaves their matters to God […] no matter how powerful one is, or how they say they are on ‘one page’ [with others] historic defeat, historic humiliation, historic disgrace becomes the fate of the oppressive,” she said. “So tell me now. Has God not made Nawaz Sharif’s opponents a warning to all?” A grim-faced Maryam at one point asked the organisers to turn down the music. She said that Nawaz Sharif’s opponents had suffered exemplary defeat as she hit out at the PTI-led government for the hike in prices of utilities and petroleum products. Maryam said in Nawaz’s tenure [as PM],
CONFIRMED CASES: cOrOnavIrus In
1,263,664
paKIstan SINDH:
sugar was Rs50 per kg, and now after three years, it had crossed Rs120 per kg while electricity prices had shot up from Rs10-11 per unit to Rs25 per unit. “There was a man named Imran Khan, who used to say when flour becomes expensive, when sugar prices rise, when rates of electricity and petrol rise, know that your prime minister is a thief,” Maryam said. “So who is the thief now?” she asked a charged crowd. Maryam also criticised the government for the dengue outbreak, particularly in Punjab. “The entire world is facing coronavirus, but now because of their [government’s] incompetence, people are dying of dengue,” she said. “There is no one here like Shehbaz Sharif who used to visit hospitals,” Maryam added.
LAST UPDATED AT 7:19 AM ON OCTOBER 16, 2021
DAY'S DEATH TOLL:
NEW CASES:
28 1,004
437,572
ISLAMABAD:
1,208,438
465,175
PUNJAB:
DEATHS: 28,252
KP:
176,650
BALOCHISTAN:
AJK/GB:
RECOVERED:
33,114
106,402
34,385 / 10,366
STORY ON PAGE 02
dealer’s commission, and OMC’s margin are charged on the sale of petrol and diesel. Meanwhile, justifying the record increase of petroleum prices in Pakistan, Finance Minister Shaukat Tarin on Saturday said prices were increasing globally and not just in the country. Speaking to the media in washington alongside Finance Secretary yousuf Khan, Governor SBP Dr. Raza Baqir, and Pakistan’s Ambassador to the United States Dr Asad Majeed Khan, Tarin said that the present government’s structural reform measures have been appreciated, improving the country’s economy. “Comprehensive measures are being taken to improve the track and trace of Pakistan’s tobacco, cement, sugar, and beverages industries. we will increase the tax to GDP ratio to 20pc in the next four to five years,” Tarin said.
Kamal set to face no-confidence motion on October 20 News Desk The no-confidence motion against Balochistan Chief Minister Jam Kamal Alyani is likely to be put to a vote in the Balochistan Assembly on October 20, a news outlet reported on Saturday. According to the report, Balochistan Governor Syed Zahorr Ahmed Agha has summoned a session of the provincial assembly on October 20 and it is expected that the no-confidence motion, which was submitted by some disgruntled members of the ruling Balochistan Awami Party (BAP) to the assembly secretariat on October 12, would be tabled in the session. The reports further stated that the spokesman for the Balochistan government, Liaquat Shahwani, claimed that the dissident BAP members were being manipulated by the Pakistan Democratic Movement. Like the Senate elections, the PDM would suffer “an indirect defeat” in the Balochistan Assembly, Shahwani said, adding that “no government would last more than two and a half years if a precedent is set”. The disgruntled members from BAP and other political parties, who had submitted the motion, include Zahoor Ahmed Buledi, Jan Muhammad Jamali, Abdul Rehman Khetran, Akbar Askani, Muhammad Khan Lehri, Sikandar Umrani, Lala Rashid, Mahjabeen Sheran, and Bushra Rind of the BAP, Asad Baloch and his wife Bibi Mastoor of the Balochistan National Party-Awami, and Naseebullah Marri of the Pakistan Tehreek-e-Insaf.
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