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Sakward Industries Limited


Tel: +86-28-61377569

Fax:+86-28-86786385

 

Inquiry:

sales@sakward.com


Sales Engineer: yang@sakward.com


Accounting: sally@sakward.com


Administration: ivy@sakward.com


Marketing Director: jimmy@sakward.com


Office Address:  Suite 0926, Wankejinku unit 2, No.9 wanke road, Chengdu,China.

 

Home > Petrol, diesel prices rise for second time in a week
SLAMABAD For the second time in a week after the federal budget, the prices of petroleum products went up by up to Rs2.70 per litre on Monday with immediate effect because of imposition of 19 per cent general sales tax on 95 per cent retailers, instead of the standard rate of 17 per cent.
The ex-depot price of petrol rose by Rs1.72 per litre to Rs102.35, high-speed diesel (HSD) by Rs1.80 to Rs107.30 and kerosene by Rs1.60 to Rs96.19.
The price of High Octane Blending Component (HOBC) was up by Rs2.70 per litre to Rs139.10 and that of light diesel oil (LDO) by Rs1.54 to Rs91.44.
On June 13, the price of petrol was jacked up by 86 paisa per litre, HSD by 90 paisa, kerosene by 80 paisa, HOBC by Rs1.35 and LDO by 77 paisa as a result of an increase in standard GST rate from 16 to 17 per cent.
The two adjustments within a week led to a cumulative increase in prices of petrol by Rs2.58 per litre, HSD by Rs2.70, HOBC by Rs4.05, kerosene by Rs2.40 and LDO by Rs2.31.
An anomalous situation arose when oil marketing companies came to know about another amendment to GST laws under which retailers, dealers and pump owners not registered as taxpayers are required to pay an additional 2 per cent GST.
The OMCs led by Pakistan State Oil faced a new dilemma — 17 per cent GST on 5 per cent registered retailers and 19 per cent on 95 per cent unregistered ones.
A spokesperson for the PSO said that it had no option but to follow the law. 
“It is creating confusion and a chaotic situation which will result in disruption in the supply chain.”

 

SLAMABAD For the second time in a week after the federal budget, the prices of petroleum products went up by up to Rs2.70 per litre on Monday with immediate effect because of imposition of 19 per cent general sales tax on 95 per cent retailers, instead of the standard rate of 17 per cent.

 

The ex-depot price of petrol rose by Rs1.72 per litre to Rs102.35, high-speed diesel (HSD) by Rs1.80 to Rs107.30 and kerosene by Rs1.60 to Rs96.19.

 

The price of High Octane Blending Component (HOBC) was up by Rs2.70 per litre to Rs139.10 and that of light diesel oil (LDO) by Rs1.54 to Rs91.44.

 

On June 13, the price of petrol was jacked up by 86 paisa per litre, HSD by 90 paisa, kerosene by 80 paisa, HOBC by Rs1.35 and LDO by 77 paisa as a result of an increase in standard GST rate from 16 to 17 per cent.

 

The two adjustments within a week led to a cumulative increase in prices of petrol by Rs2.58 per litre, HSD by Rs2.70, HOBC by Rs4.05, kerosene by Rs2.40 and LDO by Rs2.31.

 

An anomalous situation arose when oil marketing companies came to know about another amendment to GST laws under which retailers, dealers and pump owners not registered as taxpayers are required to pay an additional 2 per cent GST.

 

The OMCs led by Pakistan State Oil faced a new dilemma — 17 per cent GST on 5 per cent registered retailers and 19 per cent on 95 per cent unregistered ones.

 

A spokesperson for the PSO said that it had no option but to follow the law. 

 

“It is creating confusion and a chaotic situation which will result in disruption in the supply chain.”