OGRA issues notification of hike in POL prices
The Oil and Gas Regulatory Authority (OGRA) on Thursday issued notification of increase in the prices of POL products following the presidential ordinance.
According to the notification, the petroleum development levy has been imposed on petroleum products with immediate effect.
The prices have been increased from 12 to 21 percent following the implementation of government notification.
After the issuance of presidential ordinance, the new price of petrol after the increase of Rs.11.60 is Rs.62.13, price of HOBC after the increase of Rs 16.24 is Rs 78.78, price of Kerosene oil after the increase of Rs 6.96 is Rs.59.35, price of high speed diesel after the increase of Rs 9.28 is Rs.62.63 and that of light diesel after the increase of Rs 3.48 is Rs. 54.94.
The new prices have been implemented with immediate effect.
According to OGRA notification, the POL prices have been restored to pre-7th July.
It may be mentioned here that President Asif Ali Zardari has issued ordinance increasing the prices of POL products, which restored the previous prices.
The ordinance was issued with the Prime Minister advice and it was named as Petroleum Development Levy Ordinance 2009.
The Supreme Court had suspended the imposition of carbon tax on POL products after which the government decreased the prices two days ago, however, the government again increased the prices through presidential ordinance.