Pakistan has lowest petroleum prices, Senate says

ISLAMABAD, September 27 (APP): Energy Minister Hammad Azhar on Monday informed the Senate that the prices of petroleum products in Pakistan were lower than 127 countries.

Closing debate on the motion presented by Bahrmand Khan and Mushtaq Ahmed regarding the recent rise in oil prices, the minister said the government has given tax relief of Rs 465 billion to keep oil prices lower than others. country.

Sharing the details, he said high-speed gasoline and diesel prices had risen 40% and 36% respectively in the international market since January 2021. However, he clarified that the government had only allowed 6% and 9% respectively increase in the price of gasoline and diesel to relieve the masses as much as possible. Relief has been brought to the masses by reducing various taxes on petroleum products, he added.

Coming harshly to the former Muslim League of Pakistan (PML-N) government, the minister said the PML-N government had failed to pass on the impact of lower oil prices to the masses and had collected 56% of taxes on various petroleum products.

Currently, the government collects only 10 percent and 11 percent taxes on gasoline and diesel respectively, he said.

He said only Rs 5 and Rs 5.25 per liter, respectively, were charged.
The minister said gasoline and diesel prices were still the lowest in the region. Currently, gasoline and diesel were sold at Rs 123 and Rs 120 per liter respectively, he added.

He said the international market boomed after the COVID-19 pandemic and the prices of food grains and other basic commodities saw a sharp increase as a result of inflation.

He said it was high time to join hands and relieve the masses of inflation better than resorting to emotional slogans.

The minister said the government is doing everything possible to provide relief to the people and that a record grant has been given to Utility Stores Corporation in addition to the allocation of considerable funds for the Ehsaas program and health cards. The ‘Langarkhanas’ network was also being extended to other parts of the country, he said.

Previously, Bahramand Tangi and Mushtaq Ahmed had called on the government to reduce the prices of petroleum products in order to alleviate the miseries of ordinary people.

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