POL products prices: Govt deprives public, favours OMCs
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The Federal Government has deprived the public of the relief of a drop in the International Market Petroleum prices as the levy on diesel was increased, reported 24NewsHD TV channel.
The prices of petroleum products were decreased in the international market but the government increased the levy on High-Speed Diesel by Rs12.41 and it reached Rs25.
The Federal Government is receiving the highest levy of Rs50 on petrol in the history of the country.
The government has decided to keep the prices of petroleum products constant at the older rates with effect from the 1st of December.
The Oil Marketing Companies were favoured more instead of favouring the general public as the Government increased the profit margins of the OMCs.
The margins for the OMCs were increased by Rs1.32 for high-speed Diesel which takes it to Rs5 per litre, whereas the margins on petrol were increased by Rs0.32 which rounds off the total to Rs4 per litre on petrol and these margin increases will boost the profits of the oil companies by Billions. According to the notification, the government will gradually further increase this margin by Rs 1 and Rs 2 for Diesel and Petrol respectively.