Supreme Court Probe Elucidation of High Petrol Prices in Pakistan

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The up surging prices of petrol in Pakistan, what are the reasons behind? Supreme Court ask this question. The real cost of petrol is 62.38/liter right now; so all remaining charges goes to taxes. The petrol price that is selling all over the country is Rs. 91.96/liter, as a result, a 30/liter rupees are being charged in the face of taxes. Supreme Court three members bench headed by Chief Justice of Pakistan, issues an order after this hearing the case of extreme growth in petroleum prices. Furthermore, Chief Justice Question concerning these taxes that from which formulas or laws these tax has been imposed. People’s living goes vilest due to high petrol prices via taxes.

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Supreme Court Inquire About High Petrol Prices

Deputy managing director (DMD) of PSO Yaqoob Sattar was also present in the hearing. Moreover, he informs the court concerning price appliance on the petroleum products; Whereas, SC bench expressed dissatisfaction over his reasons and explanations. Chief Justice of Pakistan showed his suspicions and inquired the procedure of import petroleum products. Furthermore, Supreme Court bench asked to come on Friday with FBR chairman, and Secretary Petroleum Ministry; therefore they will ask from them the procedure of implementation so high taxes.

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Deputy MD of PSO told that many institutions fail to pay the amount of Rs.300 billion. Chief Justice inquiry regarding those institutions. Furthermore, Yaqoob Sattar explain the formula of tax in following faces

  • Real Price: Rs. 62.38/liter
  • Commodity Tax: Rs. 9.85/liter
  • Inland freight equalization margin: Rs. 8.83/liter
  • Marketing Companies’ Share: Rs. 2.55/liter
  • Dealers Commission: Rs. 3.35/liter
  • Federal Govt. Tax: 12%
  • Price raises from Rs. 62.38/liter to Rs. 91.96/liter

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On the topic of the same prices in various cities like Lahore, Karachi, and Peshawar. It is unsatisfied that being a port city in Karachi there are same tax rates. The city should be less in tax imposition due to the importance of tax on transportation. After discussion, Chief Justice detected that something is in a veil from Supreme Court through Pakistan State Oil (PSO) and Oil and Gas regulatory authority (OGRA). All of the issues and points should become in front of Supreme Court.

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