Prime Minister Shehbaz Sharif raised the petroleum tax with RS10 on Saturday. Liter – a 17% hike – to RS70 per Liters, which keeps petrol and diesel prices unchanged, while using the available additional tax space to reduce electricity prices by approximately RS1.50 per year. Unit.

Despite the increase, the ex-depot petrol price of RS255.63 per year remains. Liter, while high -speed diesel remains on RS258.64 per Liters, according to officials of the Ministry of Finance and Energy.

The government chose not to pass on the reduction in global oil prices to consumers, which was going on March 16. Total aradics in electricity prices are expected to be more than RS1.50 per year. Unit where the Prime Minister plans to announce the relief on March 23.

At the summary of the Ministry of Finance, the Prime Minister approved to increase the petroleum tax rates by RS10 per year. Liter for RS70. The extra RS10 per Liters will be used to reduce electricity prices by approx. RS1.50 per Unit.

“We have decided to maintain oil prices at their current level and transfer the full financial benefit to the public by reducing electricity prices,” the prime minister said.

The premiere added that this measure is one of many aimed at achieving a meaningful reduction in electricity -star. “This step is among several others that will lead to a significant reduction in electricity prices.”

Housing consumers are forced to pay over RS65 per year. Device Strength Price – which is the direct result of RS18 per Without idle capacity payments, where intense cross support is charged from users of over 300 monthly consumption and building the cost of inefficiency and theft in the power rates.

PM is tasked with his Minister of Power Sardar Awais Leghari to come up with a tangible proposal to reduce prices in the interval of RS6 to RS7 per year. Unit.

The trade-off between gasoline and electricity prices is performed to tackle a question of high electricity bills that damage any household and industry, said federal minister of Petroleum Ali Pervaiz Malik while talking to Express Pakinomist.

Ali noted that while gasoline in Pakistan was among the cheapest in the region, electricity was the most expensive that the prime minister is trying to rebalans.

Express Pakinomist reported on Saturday that the International Monetary Fund (IMF) had allowed Pakistan to increase Petroleum Levy to RS70 per year. Liter and use the means to reduce power prices. The tax is increased to absorb price reduction.

The Prime Minister said that a comprehensive and effective strategy is being prepared under which an electricity package is being developed to reduce electricity prices and the details are completed.

The government has estimated to earn approx. RS180 billion a year from the extra tax it will use to reduce electricity prices by approx. RS1.50 per Unit.

The government officials said that the total reduction in electricity prices will be higher than this after using the fiscal space due to negative fuel price adjustment requirements from previous months.

The government also tried to convince the IMF to lower the GST rate on the electricity bills to reduce prices, but the fund did not agree.

According to a comparison of the government, at the US dollar parity, the Pakistan gasoline price is 91 cents compared to $ 1.15 in India, $ 1.26 in Sri Lanka and $ 1.04 in Bangladesh. However, an important reason behind the higher price in dollars in neighboring countries is that their currencies are stronger compared to a weaker rupie.

Likewise, the diesel price in Pakistan in the dollar -Termer is 92 cents, while it is $ 1.03 in India, $ 1.12 in Sri Lanka and 86 cents in Bangladesh.

Pakistan’s income per The inhabitant is also lower than its regional comrades, which limits citizens’ ability to pay high prices for fuel and electricity.

Gasoline is mainly used in private transport, small vehicles, rickshaws and two -wheeler, and it directly affects the budget for the middle and lower middle classes. Most of the transport and agricultural sectors run at high-speed diesel.

After the fresh increase, the total taxes on gasoline have risen to approx. RS86 per Liter. The government will now charge RS70 per year. Liter of petroleum tax in addition to 10% excise duty at the import stage.

The economic space created by changes in global oil prices and other measures will be used to provide significant relief to the public through reduced electricity costs, the prime minister said.

He repeated his government’s obligation to prioritize public relief since accession.

According to the government’s decision, oil prices will remain the same up to the end of the current month.

The price per Liter of gasoline remains on RS255.63, high -speed diesel RS258.64, parafin oil RS168.13 and light diesel oil at RS153.34.

On the other hand, the work that was presented to the petroleum department of the industry for a few days back showed relief in the price of oil products up to RS14.16 per year. Liter in line with a reduction in global oil prices.

Industry’s work showed that the ex-depot prices for gasoline could come with RS14.16 per year. Liters, and the same for diesel was expected to fall with RS8.70 per liter. Liter.

A reduction of RS10.33 per Liters were calculated for the price of paraphin oil, while light diesel oil could have to drop with Rs. 7.12 per Liter.