SC Commission on petroleum prices suggests cut

imtishal (imtishal) 2009-05-13 03:42:00 +0600 #21

It's a gud step by SC.At least now Govt. should realize that there is someone to check on them.
i read on some new channel yesterday about shaukat tareen's comments on SC suggestion for price cut is that he would resign.and petrol prices cannot be decreased till end year.
Banda pochaye iss samundari ghoraye kaye mouh walaye say kah kar abb resign.

ToofaneBatameezi (ToofaneBatameezi) 2009-05-13 04:09:00 +0600 #22

Govt. case is very strong....Govt. is saving approx 150 mil and if cut is ordered then it would be come to down to 1.3-1.5 mil; Deficit would grow and IMF would start shouting then!! It is highly unlikely then any slash would come in!! Today is the hearing of the case....

Sirf public ko dkeha rahay hayn k SC i shere doing something; But it would be better if they would've taken notice of the rising of commodity price with the raise of petrol prices.

Lastly; With the news coming in big in the past days that Oil producing country are not economic recession hit thus investors showed big interest in Oil prices.

Its even said that it oil prices would hit 70$ in the coming months since Amreeka's economic indicators are really positive and its been observed that Amreeka's recession will end in the third quarter of this year; Though their Estate Market wont be expecting any boom or raise before an year..However; Japan & Amreeka have both started to purchase oil and storing it big...

Lately there are 10-11 banks in Amreeka which are reuqested by the Amreeki Govt. to increase their Capitals.

2fastnfurious (2fastnfurious) 2009-05-13 04:16:00 +0600 #23

its is not Govt. saving its day light robbery.. only the A** H*** like shaukat tarin who get "Sarkari petrol" and other perks will fight for it...

What is the logic in this argument that since other commudities will not be reduced therefore no need of reducing the price of petrol? its similar to not giving food to a paticeint who is on medicine and will will die soon.

iceman_kimi (iceman_kimi) 2009-05-13 04:39:00 +0600 #24

lolz

Petroleum prices crossed $60 in the international market yesterday. So expect this reduction to be short lived.

Einstein (Einstein) 2009-05-13 05:04:00 +0600 #25

People are not asking for 25 rs/liter but rather something which suits both parties(Govt and people) somewhere around 40 would be good for petrol. Some relief to the people and some benefit for the Govt.

But the concern is the price of daily commodities, they sky rocketed when fuel prices were high in international market and now when fuel prices are low, the daily items price is still very high

20kg flour costs around Rs.535 here and we are supposed to be an agricultural country

I feel for the people living on daily wages

iceman_kimi (iceman_kimi) 2009-05-13 05:24:00 +0600 #26

^^ Agreed.

Previously there used to be just one factor for price hike: diesel/ petrol. Lately, this has changed since electricity, gas and other govt. taxes have increased manifold over the last year or so. Prices are increasing on weekly basis now.

iceman_kimi (iceman_kimi) 2009-05-13 06:46:00 +0600 #27

SC has asked govt. to reduce petroleum prices to a reasonable level within a week. The 5 rupee reduction hasn't bee confirmed as of yet.

zeeshan368 (zeeshan368) 2009-05-13 07:05:00 +0600 #28

mohtashimiqbal (mohtashimiqbal) 2009-05-13 07:17:00 +0600 #29

@iceman kimi

i saw on express new late night yesterday that the NOTIFICATION has been issued for 5 rupee reduction , but as the prices are to be revised on a monthly base , we will hopefully see it from next month or so....

Einstein (Einstein) 2009-05-13 08:02:00 +0600 #30

Isn't the notification issued at the end dates of the month?

imtishal (imtishal) 2009-05-13 08:15:00 +0600 #31

SC should limit the fuel quota for each and every f**king sarkari car to 200-300 ltrs/mth.I can bet my a** on it that prices will reduce drastically within days.

leeda (leeda) 2009-05-13 08:33:00 +0600 #32

Cut in prices not possible, but SC decision will be hnoured: Tarin

KARACHI: Finance Advisor, Shaukat Tarin has said that the cut in petroleum products’ prices was not possible in the backdrop of the revenue situation in the country, however the decision of the Supreme Court would be accepted.

Talking to Geo News he said that the country presently was facing challenges at different levels and huge funds were being spent on the military operation in volatile areas, while the revenue situation in the country was not such that petroleum products’ prices be further reduced.

Shaukat Tarin said that a guideline for keeping the revenue high would be sought from the Supreme Court. He further said that presently the tax-net needed to be increased.

He evaded giving any categorical reply relating to the reduction in petroleum development levy.

www.geo.tv

iceman_kimi (iceman_kimi) 2009-05-13 10:23:00 +0600 #33

Talking to Geo News he said that the country presently was facing challenges at different levels and huge funds were being spent on the military operation in volatile areas, while the revenue situation in the country was not such that petroleum products’ prices be further reduced.

This situation arose just a week or two ago while they have been plundering the nation for months.

Shaukat Tarin said that a guideline for keeping the revenue high would be sought from the Supreme Court.

SC has last week announced a policy not to accept any govt. office or I would have recommended them to rid of this A** H*** and take his place. If he wants guidelines from them what is he and ppl like him on their seats for?