OGRA hikes POL, CNG prices

[hash4u]

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has issued a notification of POL and CNG price hike effective from today for the next fortnight.Earlier, the government on the advice of Oil and Gas Regulatory Authority (OGRA) had approved an increase in the prices of petroleum products.According to the notification, the price of petrol has been raised by Rs7.67 per litre to Rs93.79, diesel by Rs4.58 to Rs101.79 and HOBC has become expensive by Rs7.64 per litre to Rs120.16.The price of Kerosene oil has been raised by Rs4.64 per litre to Rs92.83.


OGRA hikes POL, CNG prices - geo.tv

kindly let me know if this is a repost

[PuNk]

Dont blame the government. They are elected by you.

[homayoon]

well, if pricing is linked to international prices, then they are; why the commotion?

[qazzafi]

Another price hike on the way! Eid per Zardari ki Eidi

[Ravager]

because the earning of public is not linked to the international earning

[homayoon]

we have to adapt for the rainy day? Well i partially agree, maybe the government should devise some subsidy mechanism for the diesel / transport sector. but nothing good is expected from this rotten lot.

[hash4u]

adapt for the rainy day?
no electricty no gas and no water. inflation is double digit on yearly basis.
we are day to day living in a warzone like situation here

they never reduce the prices fairly when the prices drop international.
this time they increased cng price with a formula which does not exist

[hash4u]

ISLAMABAD: The prices of petroleum products are likely to increase once again, Geo News reported.
The new prices will take effect from Thursday August 23 at 120 AM.
According to sources in Oil and Gas Regulatory Authority (OGRA), the price of petrol may increase by Rs3.21 per litre, High Octane Blending Component (HOBC) Rs4.85 per litre, kerosene oil Rs3.52 per litre, High Speed Diesel (HSD) Rs4.40 per litre, and the price of Light Diesel Oil (LDO) by Rs3.19 per litre.
In the wake of a notification issued the price of petrol will rise from Rs93.57 to Rs96.78 per litre, HOBC from Rs120.16 to Rs125.01 per litre, kerosene oil from Rs92.83 to Rs96.35 per litre, HSD from Rs101.79 to Rs106.19 per litre, LDO from Rs90.11 to Rs93.30 per litre.
Sources also informed Geo News that going forward the petroleum products prices would be revised every week instead of fortnight.
The new prices will take effect after prime minister’s approval.

POL prices may go up; weekly revision likely - geo.tv

[hash4u]

ISLAMABAD: The prices of petroleum products have been increased once again, Geo News reported.
The new prices will take effect from Thursday August 23 at 120 AM.
According to Oil and Gas Regulatory Authority (OGRA) notification issued, the price of petrol has increased by Rs3.21 per litre, High Octane Blending Component (HOBC) Rs4.85 per litre, kerosene oil Rs3.52 per litre, High Speed Diesel (HSD) Rs4.40 per litre, and the price of Light Diesel Oil (LDO) by Rs3.19 per litre.
The price of petrol has risen from Rs93.57 to Rs96.78 per litre, HOBC from Rs120.16 to Rs125.01 per litre, kerosene oil from Rs92.83 to Rs96.35 per litre, HSD from Rs101.79 to Rs106.19 per litre, LDO from Rs90.11 to Rs93.30 per litre.
Sources also informed Geo News that going forward the petroleum products prices would be revised every week instead of fortnight.
Moreover, the rate of CNG for Region One, Potohar, Balochistan $ Khyber-Pakhtunkhwa, has been raised by Rs3.21, setting the new price up Rs88.61/kg.
The CNG price for Region Two, Punjab and Sindh, has increased by Rs2.68 bringing it up at Rs80.94/kg.

POL prices increased by up to Rs4.85, CNG Rs3.21 - geo.tv

[Vaqas1]

So Price of CNG back to around 89 where it was. Hmm Amazing how much revenue gov gets out of CNG which is produced in Pak (Priced at international rate) and I am sure this will be close to what so called industries (Which are converted to cheap gas for electercity production) can generate.

Energy prices are so high in Pak i mean I was running a/c at home at a higher temp setting and mostly in night and I got a 24500Rs bill hmm. Patriotism aside but unfortunately Pak is no more a country where any one would stay if given a choice.

[hash4u]

last 2 months of the government from hell !

[Haider53]

[huzaifaa]

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has issued a notification of POL and CNG price hike effective from today for the next fortnight.Earlier, the government on the advice of Oil and Gas Regulatory Authority (OGRA) had approved an increase in the prices of petroleum products.According to the notification, the price of petrol has been raised by Rs7.67 per litre to Rs93.79, diesel by Rs4.58 to Rs101.79 and HOBC has become expensive by Rs7.64 per litre to Rs120.16.The price of Kerosene oil has been raised by Rs4.64 per litre to Rs92.83.


OGRA hikes POL, CNG prices - geo.tv

kindly let me know if this is a repost

yup bro its a repost coz after every 2,4 days some 1 post the increase in price

[onlyfaith]

so this practice will be done every week now??

what a pathetic state of affairs this is??

May God ve mercy on us all.

[Haider53]

That oil prices have been increased again comes as no surprise. The $ 25 increase in international crude price since June ? when weak international prices prompted a reduction in Pakistan also ? was bound to factor its way into local prices, even though most of our imported oil is Gulf crude, and that too on favourable terms. Yet despite the predictability of the trend, there are some factors in the local price setting mechanism that need revisiting. First, Wednesday?s decision was forced by the finance ministry, despite the president?s directive to freeze prices till September 1, and resistance from other ministries. No doubt this is owed to bloating deficits and constraints on the petroleum levy, which was squeezing government revenue as prices rebounded in the international market. But since POL products comprise major inputs across industry, commerce and domestic use, the new price surge will add to already uncomfortable inflation, exposing the finance ministry?s position as self-defeating. Oil price rises impact already weak growth and employment, and eventually worsen the fiscal deficit. Granted, unimpressive tax and export earnings force the government to rely on oil revenues. But when this approach produces contradictory results, perhaps a change of tack is advisable.

Then there is the controversial decision of weekly revision of prices. Again the finance ministry forced its decision despite resistance from the Oil and Gas Regulatory Authority (OGRA). The exercise might seem attractive from the finance ministry?s point of view, especially when you consider an erratic international market, but loses value once you consider ground realities, and as such is difficult to understand. Consumers should prepare for more frequent hoarding by pumps (weekly instead of fortnightly) whenever prices move to the upside, not to mention lagging CNG price movement considering its 60 per cent peg to the oil price. This means frequent and erratic price movements in the local market. The government?s fiscal machinery?s aggressive stance exposes desperation, leading to tactics that stand to harm the economy in its current state. Yet little relief is expected at least till the elections. Islamabad must fill its kitty as much as possible, or risk severe repercussions when the $ 2.9 billion has to be repaid to the IMF this year.

The move also shows lack of cohesion between fiscal and monetary policy. Oil price rises will further deter investors already hurt by the energy crisis. It will also dilute, at least partially, recent expansionist easing by the State Bank. Already the 150 basis points cut will hurt the rupee?s standing, complicating long term oil imports in the process. To deter private investment at this time is inopportune, and will do the government?s obsession with the deficit little good. Pakistan?s oil price troubles epitomise one of the biggest concerns of dependent economies. The international price is set by geopolitical compulsions and demand-supply dynamics far beyond our control or influence. Yet oil is the economy?s driving force, and vulnerability to exogenous shocks should prompt greater revenue independence. Instead of concentrating on how to maximise oil receipts, economic managers ought to be working on enhancing value addition in exports and expanding the tax net. Only economies that perform at or close to their production potential are cushioned against external factors that blunt domestic growth. The energy crisis has debilitated production and consumerism alike, fuelling unemployment and cost-push inflation. Manufacturing industry is struggling, private investors are crowded out by excessive government borrowing, and the consumer is pushed into a very tight corner. Those in charge must revise policy and change course before even our minuscule growth is retarded and the economy begins contracting. *

[hash4u]

nice article
though last sentence should be changed.those incharge should quit.they have ruined the country and its economy totally. its a mess which would takes years to fix