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Petrol prices set according to international markets, govt tells court

SAMAA | - Posted: Nov 20, 2019 | Last Updated: 5 months ago
SAMAA |
Posted: Nov 20, 2019 | Last Updated: 5 months ago
Petrol prices set according to international markets, govt tells court

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The Sindh High Court heard on Wednesday a petition against the state on the price hike in petroleum products.

Petitioner Advocate Maulvi Iqbal Haider had argued that the price hike is a violation of the Constitution and that prices cannot be increased without approval from the Parliament.

The federal government, in its defence, submitted a written response in court. It said, the prices of petroleum products are determined according to petrol prices in the international market.

“To determine the price of any petrol product, it is very important to consider the prices of imported oil,” said the report. “During months when oil is not imported, the prices are set in accordance to the local market.”

In March 2019, the Oil and Gas Regulatory Authority had requested an increase in the prices of oil by Rs11. The price of diesel was requested to go up by Rs6. The government remarked in its reply that the price of oil in Pakistan is the lowest in the region.

At present, the tax levied on the price of petrol is Rs30 and on diesel is Rs17. Subsidies according to needs are given for kerosene oil, added the government.

The court has ordered the petitioner to submit a response by December 18.

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