Pakistan has lowest prices for petroleum products: Hammad Azhar

Minister for Energy Hammad Azhar has apprised the Senate that prices of petroleum products in Pakistan were lowest than 127 countries.

Winding up debate on the motion moved by Bahrmand Khan and Mushtaq Ahmed about recent rise in petroleum prices, the minister said the government has provided tax relief of Rs 465 billion for keeping petroleum prices lower than other countries.

Sharing the details, he said prices of petrol and high speed diesel have witnessed 40 per cent and 36 per cent respectively increase in the international market since January 2021. However, he clarified the government allowed only 6 per cent and 9 per cent respectively increase in prices of petrol and diesel to provide maximum relief to the masses. The relief was provided to the masses by slashing various taxes on petroleum products, he added.

Coming hard on the past Pakistan Muslim League (PML-N) government, the minister said the PML-N government did not pass impact of lowest oil prices on the masses and collected 56 per cent taxes on various petroleum products.

Currently, the government was collecting only 10 per cent and 11 per cent tax on petrol and diesel respectively, he said. He said only Rs 5 and Rs.5.25 per cent per litre respectively petroleum levy was being charged. 

The minister said still prices of petrol and diesel were lowest in the region. Currently, petrol and diesel were being sold at Rs 123 and Rs 120 per litre respectively, he added.

He said the international market witnessed boom after COVID-19 pandemic and the prices of food grains and other commodities registered sharp increase resulting inflation.

He said it is a high time to join hands and provide better relief to the masses from inflation rather resorting to emotional slogans.

The minister said the government was making all efforts to provide relief to the people and record subsidy was given to Utility Stores Corporation besides allocation of hefty funds to Ehsaas Program and Health Cards.

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