Tag: POL products

  • FBR launches mega crackdown against illegal petrol pumps

    FBR launches mega crackdown against illegal petrol pumps

    ISLAMABAD: Federal Board of Revenue (FBR) has launched massive crackdown against illegal petrol pumps from Monday (January 11, 2021) on the directives of Prime Minister Imran Khan.

    Prime Minister Imran Khan in a recent meeting directed the FBR and relevant authorities to initiate harsh action illegal petrol pumps selling smuggled petroleum products.

    The FBR in this regard wrote letters to Chief Secretaries of all the provinces, chairman Oil and Gas Regulatory Authority (OGRA), Inspector General of all the provinces and chief collectors of Pakistan Customs about initiating the crackdown from January 11, 2021.

    The FBR is going to launch action including on-ground checking and scrutiny of requisite documentary enforcement team during operation with the help of Pakistan Customs, District Administration, Police etc.

    A FBR notification said that during the course of operation the enforcement teams would enquire from the owner/manager of the retail outlet to present following documents:

    1. Oil Marketing Companies (OMC) authorization/dealership
    2. Form-K

    In case of non-production of requisite documents, following further steps shall be taken by the team:

    1. Failure to produce both these documents shall render the outlets ‘illegal and unauthorized’ and the POL products present there shall be deemed to have been smuggled or illegally acquired as per The Customs Act, 1969, The OGRA Ordinance, 2002 and Rules made thereunder.
    2. Inventorization of POL will be carried out as per details given in para 6.
    3. Customs officials shall serve the owner/manager of the POL outlet notices under Section 3(kk) and Section 26 of the Customs Act, 1969 to bring forth any legal document establishing the legality of the sale outlet within 7 days.
    4. In case, no one is available at the premises, the notices shall be posted on the doors/walls of the office/building.
    5. After service of notice under Section 2(kk), the POL products will be deemed ‘detained’ pending production of requisite documents by the owner, if any and its verification by customs.
    6. The illegal POL outlet will be sealed by District Administration as per para 5(c) and Police force shall be deployed immediately to safeguard the detained goods and premises till the finalization of the proceedings.

    In case, the process of documentary scrutiny or in the absence of any lawful document, confirms that the petrol pumps, outlet is illegal, the district administration shall seal the premises of the petrol pump under Section 43A of Pakistan Petroleum (Refining, Blending and Marketing) Rules, 1971 made by Minister of Petroleum.

    In case, if the premises of illegal outlet has been closed or found abandoned but it has been used previously as illegal petrol station, the same shall be sealed and the owner/manager shall be proceeded against by District Administration for violation of The Petroleum Act, 1934, the OGRA Ordinance, 2002 and Rules made thereunder.

  • New Year gift: prices of all petroleum products increased

    New Year gift: prices of all petroleum products increased

    ISLAMABAD: The federal government on Thursday announced a New Year gift for general public by enhancing prices of all petroleum products next fortnight effective from mid-night of January 01, 2021.

    According to a press statement issued by the Finance Division, the prices of petroleum products enhanced and will effect from January 01, 2020 for the next fortnight, are as follow:

    The price of petrol has been increased by Rs2.31 to Rs106 per liter from Rs103.69.

    The rate of high speed diesel (HSD) increased by Rs1.80 to Rs110.24 per liter to Rs108.44.

    The price of kerosene oil has been enhanced by Rs3.36 to Rs73.65 per liter from Rs70.29.

    Similarly, the price of light diesel oil has been increased by Rs3.95 to Rs67.86 per liter from Rs71.81.

  • POL Products: import unit price plunges by 46%; retail price up 35% in five months

    POL Products: import unit price plunges by 46%; retail price up 35% in five months

    ISLAMABAD: The unit price of imported POL products fell by 46 percent during first five months (July – November) of the current fiscal year, yet the retail petrol price increased by 35 percent during the period under review.

    According to Pakistan Bureau of Statistics (PBS) the import of POL products fell by 16.51 percent to $1.815 billion during first five months of the current fiscal year as compared with $2.17 billion in the same period of the last fiscal year.

    At one end where import payment for finished petroleum produces fell by 16.51 percent the quantity of same products has increased by 54.42 percent during the period under review.

    The country paid $1.815 billion for the import of 6.08 million metric tons of petroleum products during July – November 2020. However, the payment for POL Products was $2.17 billion for the import of 3.93 million metric tons. Therefore, the unit price came down by 46 percent for the period under review.

    On the other hand, the government increased the price of petrol by 35 percent during the period under review. The per liter petrol was Rs74.52 on July 01, 2020 and it was increased to Rs100.69 per liter up to November 30, 2020.

    It is interestingly to note that the exchange rate during the period also witnessed appreciation in the local currency. The rupee appreciated by 4.47 percent during the period under review. The rupee was at Rs166.89 to the dollar on July 01, 2020 and it appreciated to Rs159.42 to the dollar on November 30, 2020.

  • Petrol increased to Rs103.69 per liter

    Petrol increased to Rs103.69 per liter

    The government has announced an increase in the prices of all petroleum products, including petrol, for the upcoming fortnight, effective from December 16, 2020. This adjustment reflects global market trends and fluctuations in crude oil prices, impacting the cost of fuel domestically.

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  • Diesel oil price hiked by Rs4/liter

    Diesel oil price hiked by Rs4/liter

    ISLAMABAD: The government has increase the price of high speed diesel oil by Rs4 per liter. The prices of other POL products have been kept unchanged for next fortnight with effect from December 01, 2020, a statement said on Monday.

    The government in its endeavor to provide maximum relief to the public has decided to absorb most of the increase in international prices of petroleum products, the statement said.

    The prices of MS (Petrol), Kerosene (SKO) and Light Diesel Oil would remain the same w.e.f. 01 December 2020 for the next fifteen days.

    However, due to significant increase in the international price of High Speed Diesel (HSD), the price of High Speed Diesel has been increased by Rs. 4.00 per liter for the same period.

    The price of high speed diesel has been increased to Rs105.43 per liter from Rs104.43.

    The prices of MS (Petrol) at Rs100.69; Kerosene (SKO) at Rs65.29, ant Light Diesel Oil at Rs62.86 have been kept unchanged for next fortnight.

  • Prices of petrol, diesel reduced for next fortnight

    Prices of petrol, diesel reduced for next fortnight

    ISLAMABAD: The federal government on Sunday decided to reduce prices of petroleum products for next fortnight effective from November 16, 2020.

    A statement issued by the finance division said that the price of petrol has been reduced by Rs1.71 per liter and rate of high speed diesel reduced by Rs1.79 per letter.

    The new prices of petroleum products will be as under effective from November 16, 2020:

    Petrol Rs100.69/liter

    High Speed Diesel Rs101.43/liter

    Kerosene Oil Rs 65.29/liter

    Light Diesel Oil Rs62.86

  • Govt. slashes prices of petrol, HSD

    Govt. slashes prices of petrol, HSD

    ISLAMABAD: The government on Saturday announced reduction in prices of petrol and High Speed Diesel (HSD) effective from November 01, 2020.

    In a notification issued by the ministry of finance said that the government had decided to reduce prices of petrol by Rs1.57 per liter and HSD by Re 0.84 per litter.

    The new prices effective from 12 midnight today are as follow:

    MS Petrol Rs 102.40 per liter

    HSD Rs103.22 per liter

    Kerosene oil Rs65.29 per liter

    Light Diesel Oil Rs62.86 per liter

  • Petroleum prices increased up to 66 percent; Petrol enhanced to Rs100.10/liter

    Petroleum prices increased up to 66 percent; Petrol enhanced to Rs100.10/liter

    ISLAMABAD: The federal government has increase prices of petroleum products (POL) up to 66 percent effective from June 26, 2020.

    According to new prices issued by the ministry of finance the maximum increase has been witnessed in kerosene oil by 66.08 percent to Rs59.06 per liter from previous price of Rs35.56 per liter.

    Second major change has been witnessed in Light Diesel Oil that has been enhanced by 46.77 percent to Rs55.98 per liter from previous rate of Rs38.14 per liter.

    The price of petrol has been increased by 34 percent to Rs100.10 per liter from previous rate of Rs74.52 per liter.

    The price of High Speed Diesel has been increased by 26.58 percent to Rs101.45 per liter from Rs80.15 per liter.

  • Prices of petroleum products slashed up to 39 percent

    Prices of petroleum products slashed up to 39 percent

    ISLAMABAD: The government on Thursday announced a significant reduction in the prices of petroleum products, with cuts reaching up to 39 percent. This move aims to pass on the benefits of the massive decline in international oil prices to the public.

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  • Petroleum prices kept unchanged

    Petroleum prices kept unchanged

    ISLAMABAD: The government has decided to keep the prices of petroleum products unchanged for the month of February 2020.

    A statement said on Friday that the government decided to keep POL prices at the level of prices applied for January 2020.

    For the month of January 2020 the prices were increased as:

    The price of kerosene (SKO) has been increased by Rs3.10 per liter to Rs99.45 to from Rs96.35.

    The price of petrol has been increased by Rs2.61 per liter to Rs116.60 from Rs113.99.

    The rate of High Speed Diesel (HSD) has been increased by Rs2.25 per liter to Rs127.26 from Rs125.01.

    The price of Light Diesel Oil (LDO) has been increased by Rs2.08 to Rs84.51 from Rs82.43.