The Lahore High Court has asked the federal government for a mechanism to increase the prices of petroleum products in a petition once morest the increase in the prices of petrol and diesel.
Justice Shahid Karim of Lahore High Court heard the request of the Judicial Activism Panel regarding the increase in petrol and diesel prices.
The court remarked that the federal government should explain how the prices of petroleum products are fixed.
Justice Shahid Karim said that the method of increasing petroleum prices should be clarified.
A major increase in the prices of petroleum products is likely
Petitioner’s counsel Azhar Siddique argued that the increase in petrol prices has further increased inflation, the government increases the prices of petroleum products without any reason.
The Assistant Attorney General argued that the prices of petroleum products have been increased according to the international market.
The petitioner said that OGRA and the government’s position is beyond understanding, the court should declare the notification to increase the prices of petroleum products null and void.
Preparations for a big hike in petrol and diesel prices following electricity prices
Later, the court sought response from the federal government on a plea once morest the hike in petrol and diesel prices.
It should be noted that on July 15, the government increased the price of petrol and diesel by Rs. 999 paise and Rs. 6.18 paisa respectively for the next 15 days, adding to the economic difficulties of the people, following which the new price of petrol was increased. The price of Rs 275 60 paise and the price of high speed diesel has gone up to Rs 283 63 paise.
According to the report of Dawn newspaper, the government has increased the maximum limit of petroleum levy to 70 rupees per liter in the Finance Bill 2024 so that 12 trillion 80 billion rupees can be collected during the financial year 2024.
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2024-07-19 15:36:32
