Latest news with #Rs7.95
Express Tribune
12 hours ago
- Business
- Express Tribune
Fuel prices jacked up
Listen to article The federal government on Sunday raised the fuel prices for the next fortnight. According to a notification issued by the Finance Division, petrol has been increased by Rs4.80 per litre and high-speed diesel (HSD) by Rs7.95 per litre. The hike follows recommendations from the Oil and Gas Regulatory Authority (OGRA) and other relevant ministries. With the increase, petrol now costs Rs258.43 per litre, up from Rs253.63, while HSD is priced at Rs262.59 per litre, rising from Rs254.64. The new rates came into effect at midnight on June 16. The government cited fluctuations in international oil markets and the rupee's exchange rate as key reasons for the adjustment, in line with Pakistan's fortnightly fuel price review mechanism. Additionally, the government is focusing more on collecting petroleum levy in order to redirect it to subsidize electricity prices. The government has already decided to increase petroleum levy rate up to Rs90 per litre on the sale of oil products.
Business Recorder
19 hours ago
- Business
- Business Recorder
Govt increases petrol price by Rs4.80, diesel by Rs7.95 per litre
The federal government on Sunday increased the price of petrol by Rs4.80 per litre for the next 15 days, raising it to Rs258.43 from Rs253.63 per litre. The rate for high-speed diesel was also increased by Rs7.95 per litre, taking it to Rs262.59 from Rs254.64 per litre. Israel's attacks on Iran: Pakistan govt may fall short of Rs1,161bn PL target In a notification, the Finance Division stated that the new prices will take effect from June 16, 2025. In the last fortnightly review, the government had increased the petrol price by Rs1.00 per litre to Rs253.63, effective from June 1, 2025.
Business Recorder
20 hours ago
- Business
- Business Recorder
Govt increases petrol price by Rs4.8, diesel by Rs7.95 per litre
The federal government on Sunday increased the price of petrol by Rs4.80 per litre for the next 15 days, raising it to Rs262.59 from Rs254.64 per litre. The rate for high-speed diesel was also increased by Rs7.95 per litre, raising it to Rs258.43 from Rs253.63 per litre. Israel's attacks on Iran: Pakistan govt may fall short of Rs1,161bn PL target In a notification, the Finance Division stated that the new prices will take effect from May 16, 2025. In the last fortnightly review, the government had increased the petrol price by Rs1.00 per litre to Rs253.63, effective from June 1, 2025. However, the rate for high-speed diesel (HSD) will remain stable at Rs254.64 per litre for the next two weeks.
Express Tribune
20 hours ago
- Business
- Express Tribune
Govt hikes petrol price for next fortnight
The federal government has increased the prices of petroleum products by up to Rs7.95 per litre, according to a notification issued by the Finance Division late Sunday night. Based on the recommendations of the Oil and Gas Regulatory Authority (OGRA) and relevant ministries, the price of petrol has been raised by Rs4.80 per litre, while the price of high-speed diesel (HSD) has gone up by Rs7.95 per litre. Following the hike, the price of petrol has increased from Rs253.63 to Rs258.43 per litre. Similarly, the new price of HSD now stands at Rs262.59 per litre, up from the previous Rs254.64. The revised prices came into effect immediately from June 15. The government cited international market trends as the basis for the adjustment. Fuel prices in Pakistan are reviewed fortnightly, depending on global oil prices and the local currency exchange rate.
Express Tribune
02-03-2025
- Business
- Express Tribune
Missed targets
Listen to article The tax collection machinery is once again under the spotlight as it has missed the stipulated target, and is lagging behind Rs606 billion in the first eight months of this fiscal year. The target for July-February was Rs7.95 trillion. This performance lacunae has many reasons, including an inconsistent approach from the FBR sleuths, a degenerated environment in terms of production and the sluggish trend that is forecasted for growth. The IMF too is sceptical as it has lowered the country's growth estimate to 3% from its own earlier projection of 3.2%, irrespective of the fact that global economic recovery is on a sound-footing. A slump in exports and pestering political instability are other avenues that are detrimental to a promising economy, soliciting more than ad hoc measures to fix the fox in the woods. The FBR, which is supposed to be an autonomous revenue generation organ, seems to be infected with meddling and blatant interference from the Finance Ministry. The unceremonious outposting of a grade-20 officer for her rightly questioning the finance minister office's irrelevant demands is a case in point, and hints at the specter of demoralisation that upright officers face in their call for duty. Thus, it is no surprise that dedication to official chores takes a backseat as officers and lower staff feel content with shoddy work. It is also ironic that on one hand the government is in a revenue crisis, and on the other it has the audacity to expand the cabinet by inducting more cronies for the sake of political appeasement. That culture is prevalent as the donors are wary of corruption trends in the economy, and the lack of accountability that the system endures. The FBR and other constitutional bodies, including the judiciary, should be free from interference and that is how we can overcome stagnation, parochialism and a sense of disgust in our nationhood. Generating growth, expanding exports and ensuring an attractive environment for foreign investors is the way to go, and not official egoism for flagging an elite culture.
