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PM Shehbaz Sharif rejects proposal to hike petrol price

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  • PM Shehbaz says govt will bear burden of hike in prices of petroleum products itself.
  • Decision was announced through PML-N economy on Twitter.
  • Earlier, OGRA had sent a proposal to Finance Division to increase price of petrol by Rs21.50.

Prime Minister Shehbaz Sharif has rejected the Oil and Gas Regulatory Authority’s (OGRA) proposal to hike the prices of petroleum products in the country.

The decision was announced through PML-N’s economy account on Twitter.

There will be no change in the price of petroleum products as of now, adding that the premier has maintained that the government will bear the burden of the hike in the prices of petroleum products itself instead of shifting it to the masses, sources had told Geo News.

Earlier, the OGRA had sent a proposal to the Finance Division to increase the price of petrol by Rs21.50 and diesel by Rs51.30 (based on existing/current petroleum levy and GST).

On February 28, former prime minister Imran Khan announced a reduction of Rs10 per litre in petrol and diesel prices and a price freeze till the announcement of the budget for 2022-23.

According to the proposal, the OGRA had suggested an increase of Rs83.50 per litre of petrol and Rs119.88 per litre of diesel (based on the federal government’s advised petroleum levy of Rs30 and 17% GST).

It is worth mentioning that currently, the petrol price in Pakistan is Rs149.86 while diesel is available at Rs144.15, with zero per cent levy and GST. 

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The government is about to unleash another gasoline bomb on citizens beaten by inflation

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governmentThe price of petroleum products is anticipated to rise by the Federal Government starting on July 16. The price of gasoline is anticipated to rise by Rs7.67 per litre, the price of high-speed diesel by Rs3.72 per litre, and the price of kerosene by Rs2.73 per litre.

The people have informed me that a proposal to increase the petroleum levy has been created and is pending final clearance from Prime Minister Shehbaz Sharif.

After speaking with the premier, it is expected that the Ministry of Finance will declare the revised petroleum product prices tonight.

Petroleum product prices have recently surged due to rising global oil prices and Pakitsan’s adjustment of the petroleum levy in response to the International Monetary Fund’s (IMF) adamant demands, which forced the country to raise the petroleum development levy in the Finance Bill to Rs70 per litre.

Noteworthy is the fact that on July 1, the authorities also dropped a gasoline bomb.

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Torrential Rains: Punjab Is Expected To See Significant Rainfall Today And Tomorrow

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Severe rainstorms are predicted to strike the province in the next days, especially today and tomorrow, according to a warning from the Punjab Provincial Disaster Management Authority.

Given the weather prediction, the PDMA has asked those in charge of organizing mourning processions to take precautions.

Strong downpours are expected to batter the Province tonight and into Muharram 8 and 9, according to a PDMA spokeswoman.

Procession organizers should remain vigilant and make sure that all necessary safety precautions are taken, the spokeswoman recommended.

Rescue agencies have also been instructed by the PDMA to exercise caution, especially during the days of heavy precipitation that are predicted.

Avoid holding Majalis on shaky rooftops, keep a safe distance from electricity poles and wires, and stay away from rivers.

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Pakistan has so far repatriated 653,154 illegal Afghans.

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Reuniting illegal Afghans with their families is still ongoing, and as of right now, 653,154 Afghans have departed Pakistan altogether.

A total of 15,727 Afghans, comprising 7126 men, 4926 women, and 3675 children, departed their homeland between July 3 and July 15.

Five hundred and eighty-one cars carrying 487 families have returned to Afghanistan.

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