Proposed increase in prices of petroleum products challenged in LHC

Ogra recommends reduction in prices pf petroleum products

LAHORE: A petition on Saturday in the Lahore High Court (LHC) challenged the Economic Coordination Committee s (ECC) decision to raise the price of petrol by Rs9.35 per liter.
It stated that the international crude oil prices remained stagnant; but the government has increased the prices which would severely affect the masses.
The petition contended that the increase in prices of petroleum was the violation of Articles 9, 14 and 15 of the Constitution of Pakistan, as it would cause further inflation. It pleaded with the court to declare the ECC’s decision null and void.
Yesterday, the Economic Coordination Committee (ECC) of the federal cabinet approved an increase of Rs9.35 per liter in the price of petrol after the premier asked it to revise a proposal by the Oil and Gas Regulatory Authority (OGRA), seeking an increase of Rs14.37 per liter in petrol price from 1st May.
The meeting also approved an increase of Rs4.89 per liter in diesel price, Rs6.40 per liter in light diesel price and Rs7.46 per liter in kerosene price.
The new prices will be applied after approval by the federal cabinet on Tuesday (May 7). The increase, if approved by the prime minister, would take the per litre price of petrol to Rs108.
On April 30, the federal cabinet had deferred the proposed price hike in petroleum products by the Oil and Gas Regulatory Authority (OGRA) and referred the matter to the Economic Coordination Committee (ECC) for further consideration.
It is pertinent to mention here that the government on April 1 increased prices of all petroleum products by up to 6.45 per cent. In that month, petrol and diesel prices were increased by Rs6 per liter while kerosene and light diesel oil (LDO) were jacked up by Rs3 per liter.

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