Petroleum Ministry suggests Rs7/litre hike in petrol prices

Petroleum Ministry suggests Rs7/litre hike in petrol prices
Petrol prices in the country are expected to increase again next month after the Petroleum Ministry recommended another increase in prices by up to Rs9.5/litre for August.

In a summary sent to the Finance Ministry, the Petroleum Ministry has proposed an increase of Rs7/litre in petrol price, Rs9.5 in diesel price, Rs6.21 in light diesel oil (LDO) prices and Rs6 increase in kerosene price.

If the government accepts this suggested increase in price, the price of petrol will go up from the current Rs100.1 to Rs107.1/litre, price of diesel will increase from Rs101.46 to Rs110.96/litre, LDO price will go up from the current Rs55.98 to Rs62.19/litre and kerosene oil price will increase to Rs62.06 from its current Rs59.06/litre price.

Last month, the government had jacked up petroleum products’ prices by 66% with petrol prices increasing by Rs25.58/litre, diesel Rs21.31/litre and kerosene by Rs23.50/litre and LDO by Rs17.84/litre.

The government is currently charging Rs30 per litre petroleum levy (PL) on petrol and diesel while Rs6/litre on kerosene and Rs3/litre on LDO. It is also charging a 17% general sales tax (GST) on all petroleum products.

 



from latest-news - SUCH TV https://ift.tt/39Dw7Ps

Comments

Post a Comment

Popular posts from this blog

President Ashraf Ghani launches Afghanistan's coronavirus vaccine campaign

Image
Amid ongoing attacks by militants, Afghanistan on Tuesday launched its coronavirus vaccination drive with the hopes of inoculating thousands of Afghans against the disease that has wrecked havoc in the world. Doctors, security personnel, and journalists were among the first volunteers to receive doses of AstraZeneca's COVID-19 vaccine, donated earlier this month by India. "Today, I congratulate the people of Afghanistan for the launch of the first stage of COVID-19 vaccine [drive] with 500,000 doses of vaccines. This is a big opportunity for the people of Afghanistan," said Afghan President Ashraf Ghani as the first jabs were administered. "We don't expect any miracles, but let's help this campaign to be implemented justly," the country's acting health minister Waheed Majroh added. Afghanistan is believed to have been hit hard by the COVID-19 pandemic in the last year, but limited testing and a ramshackle healthcare sector have hampered its abi...
Read more

Biden sends Ramazan greetings, says his govt will protect rights and safety of all people

Image
As Muslims in America prepared to hold their first fast of the holy month on Tuesday, US President Joe Biden and First Lady Jill Biden sent their greetings to those observing Ramazan in a statement that touched upon the Muslim community's contribution to the country as well difficulties faced by its members. "Jill and I send our warmest greetings and best wishes to Muslim communities in the United States and around the world. Ramadan Kareem," said the US president in a statement. "As many of our fellow Americans begin fasting tomorrow, we are reminded of how difficult this year has been. In this pandemic, friends and loved ones cannot yet gather together in celebration and congregation, and far too many families will sit down for iftar with loved ones missing. "Yet, our Muslim communities begin the month of revelation with renewed hope." Joe Biden spoke about how Muslim Americans have enriched the United States since its founding. "They are as di...
Read more

Biden urges calm in first call with Palestinian President Mahmoud Abbas

Image
US President Joe Biden urged calm between Israel and Gaza on Saturday and affirmed his support for a two-state solution in his first phone call with Palestinian President Mahmoud Abbas since taking office, the official Palestinian news agency said. Biden dispatched an envoy to the region on Friday to work for calm. Biden told Abbas the United States “is making efforts with the concerned parties to reach the goal” of reducing violence in the region, a summary of the call published by WAFA said. Biden also said the United States opposes the eviction of Palestinians from East Jerusalem’s Sheikh Jarrah, the summary said. President Biden also spoke to Israeli Prime Minister Benjamin Netanyahu Saturday and raised concerns about civilian casualties in Gaza and the bombing of the building that housed AP and other media offices. In Gaza, at least 144 people have been killed since Monday, including 39 children and 22 women. Israel’s army destroyed in an airstrike Saturday the 13-floor bu...
Read more

Biden and Xi discuss avoiding conflict in first phone call in 7 months

Image
US President Joe Biden and Chinese leader Xi Jinping spoke for 90 minutes in their first talks in seven months on Thursday, discussing the need to avoid letting competition between the world's two largest economies veer into conflict. The US side said the "proof will be in the pudding" as to whether the stalemate can be broken with relations between the superpowers languishing at their lowest point in decades. A White House statement said Biden and Xi had "a broad, strategic discussion," including areas where interests and values converge and diverge. The conversation focused on economic issues, climate change and Covid-19, a senior US official told reporters. "President Biden underscored the United States' enduring interest in peace, stability, and prosperity in the Indo-Pacific and the world and the two leaders discussed the responsibility of both nations to ensure competition does not veer into conflict," the statement said. Occasional hig...
Read more

COVID-19 pandemic: IMF brings down Pakistan's development projection for FY2021

Image
The International Monetary Fund (IMF) has lowered Pakistan’s growth projection by about one percentage point for the current fiscal year driven by weaknesses in the second half of 2020 due to the coronavirus pandemic. Middle East and Central Asia released on Monday said the markdowns in growth during the second half of 2020 are also reflected for Egypt and Pakistan, both countries that lowered their fiscal year 2020/21 (which starts July 2020) projections by about one percentage point, driven by weaknesses in the second half of 2020. Pakistan envisaged GDP growth rate at 1% for the current fiscal year against a negative 0.4% for last financial year 2019/20 that ended on June 30, 2020. IMF’s projection indicates that the economic recovery in the current fiscal year would remain much lower than the expectation of government. Egypt, Jordan, the Kyrgyz Republic, Pakistan, and Tunisia have received emergency assistance under the rapid financing instrument from the IMF, while Afghanista...
Read more

Dollar waits on CPI, yuan bounces back from policy knock

Image
 The dollar was largely unchanged in early European trade Friday ahead of the release of key U.S. inflation data, which could influence Federal Reserve monetary policy thinking into the new year. The euro , seen as vulnerable to a Federal Reserve hike especially if European rate rises lag, dropped 0.4% on Thursday and was steady in Asia at $1.1297. The dollar index , at 96.197, was drifting toward its seventh consecutive weekly rise ahead of the data, which is due at 1330 GMT. Annual price gains of 6.8% are expected and any upside surprise will likely be interpreted as a case for a faster Federal Reserve taper and sooner interest rate rises. Consumer confidence data is also due on Friday and if it holds up could portend even more price pressures ahead. Tom Porcelli said,"Inflation is going to accelerate." RBC Capital Markets' chief U.S. economist, who thinks the annual pace is going to pick up and keep rising to push near 7% early in the new year. He said, "As ...
Read more

Biden talks F16s, raises human rights at meeting with Turkey's Erdogan

Image
U.S. President Joe Biden told Turkish President Tayyip Erdogan his request for F-16 fighter jets had to go through a process in the United States, while Erdogan said his counterpart was "positive" toward the jet sale. Ties between Ankara and Washington have been strained over a host of issues in recent years, from policy differences in Syria to Turkey’s purchase of Russian S-400 missile systems, human rights and legal matters. The United States has also sanctioned Turkey over the S-400s. Days after the allies narrowly averted a diplomatic crisis over jailed philanthropist Osman Kavala, Biden and Erdogan met on the sidelines of the G20 summit in Rome. Biden also raised the issue of human rights, a U.S. senior administration official told reporters. "President Biden reaffirmed our defense partnership and Turkey’s importance as a NATO Ally, but noted U.S. concerns over Turkey’s possession of the Russian S-400 missile system," the White House said in a statement af...
Read more

Sindh govt seeks army's help in implementation of coronavirus SOPs

Image
The government of Sindh has sought help from the Pakistan Army in implementing coronavirus SOPs as cases of the virus surge across the country. The provincial government has written to the Ministry of Interior, seeking the army's help for the civil administration under Article 245 of the Constitution. Sindh government said it would inform the interior ministry about details regarding troop employment and equipment after holding consultations over the matter. On the other hand, Sindh information ministry Nasir Hussain Shah has warned that the provincial government will impose a lockdown if the situation turns alarming in Sindh. "The provincial government is ready; if [coronavirus] situation worsens, we will impose a lockdown," he had said on Saturday. A day earlier, army troops were deployed in Islamabad and Peshawar after PM Imran Khan announced their help would be needed in ensuring implementation of safety protocols. Officials of the Islamabad administration had...
Read more

Low payments by fed govt hampered development in Sindh, CM Murad tells Bilawal Bhutto

Image
Sindh Chief Minister Syed Murad Ali Shah and PPP Chairman Bilawal Bhutto Zardari had a meeting on Monday at the Bilawal House in Karachi. According to the Bilawal House spokesperson, the chief minister informed Bilawal Bhutto of the COVID-19 situation in the province along with measures taken by the Sindh Health Department to contain the virus. Speaking about the pace of development in the province, CM Murad Ali Shah told Bilawal Bhutto that progress has been largely hampered because of low payments made by the Federal government against Sindh's rightful share. Shedding light on areas where improvements were witnessed, the CM said that the Sindh government has surpassed its own tax collection targets this time. During the meeting, PPP Chairman said that he had instructed the Sindh government to start a recruitment drive for filling vacant positions, adding that all appointments must be made on the basis of merit so that the unemployed youth can benefit from the move. He also...
Read more

CPEC extend to Afghanistan says China

Image
Beijing welcomes Afghanistan’s active participation in the Belt and Road Initiative, a global infrastructure plan proposed by China, and is willing to push for extending the China-Pakistan Economic Corri­dor (CPEC) to Afghanistan, Chinese Foreign Minister Wang Yi said on Thursday as he made a surprise visit to Kabul. Wang met acting Afghan Foreign Minister Amir Khan Muttaqi to discuss political and economic ties, including starting work in the mining sector and Afghanistan’s possible role in China’s Belt and Road infrastructure initiative, according to a statement from an Afghan foreign ministry spokesman. Read more:  Ukraine pleads for help as Joe Biden heads to summit China was willing to promote the extension of CPEC to Afghanistan, making the latter a bridge for regional connectivity, Wang said on Thursday . He also said China hoped Afghanistan would fulfil its commitment of not allowing any external forces to use its territory as a tool to oppose neighbours, or harm the ...
Read more