In the Senate Standing Committee on Petroleum, Secretary Petroleum said that the petroleum levy will be taken up to Rs 50 per liter by April.
A meeting of the Senate Standing Committee on Petroleum was held in which the Chairman Oil and Gas Regulatory Authority (OGRA) and other officials participated.
Chairman Ogra said in the briefing that the deregulation of petroleum products started from 2010, in the first phase furnace oil was deregulated and then HOBC was deregulated in 2016, now the work has started for the deregulation of petrol and diesel.
Senator Mohsin Aziz said that there is no institution for consumer protection in Pakistan, deregulation will allow companies to loot, I am against deregulation.
The Chairman Ogra said that the word deregulation creates confusion that the government will have no control, the pricing system of petroleum products is completely transparent.
He further said that the levy on petrol is 37 rupees 42 paise per litre, the levy on diesel is 7 rupees 58 paise per litre, there are more than a dozen types of petroleum and the rate is fixed based on them.
Secretary Petroleum said that there is currently no plan to impose GST on petroleum products, the government company PSO has a 55 percent share in the petroleum market and such a high market share of the government company is enough to prevent any kind of collusion.
He said that the petroleum levy will be taken up to Rs.50 per liter by April, the government currently has no intention of imposing GST on petroleum products.
The committee formed a sub-committee to provide jobs to local people in Sui.