Supreme Court of Pakistan (SC) has taken suo moto against the taxes and price hike on petroleum products.
The court wants to reduce the prices and taxes on petroleum products and has asked the concerned authorities to come up with a serious plan to set the rates and taxes on oil products reasonably.
It was revealed in the court that local masses would bear PKR 70 billion due to an increase in the rates of petroleum products. Moreover, it was also told to the honourable court that local demand for petroleum products is 26 million tonnes and only 15 percent is being met through the local sources.
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The court directed that authorities put their effort and tell us how much rate and taxes could be curtailed on petroleum products, as hike and taxes on petrol hurts the people who are already struggling to survive.
The prices of food items and other essentials also rise with the increase in the rates of petroleum products, the court asserted. After these comments, the Attorney General Khalid Jawed Khan urged the court to give some time so that they can come up with a plan for a meaningful result.
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Not only the court is furious, but local commuters and the business community as well. They are protesting the price hike and demanding the caretaker government to withdraw recent price hike.
The current prices of petrol, diesel and other oil products are as follow:
Let’s see what happens, until then, stay tuned for updates.
