Jamaat-e-Islami Chief Urges Rs30 Petrol Price Cut Amid Global Oil Price Drop

Jamaat-e-Islami Chief Urges Rs30 Petrol Price Cut Amid Global Oil Price Drop

Jamaat-e-Islami leader Hafiz Naeemur Rehman has called on the government to reduce petrol prices by Rs30 per litre, citing a significant decline in global crude oil prices, which are now below $67 per barrel. He argues that the government’s PKR 60 per litre petroleum levy is an unjust tax on consumers.

In his statement reported by Express News, Rehman highlighted that removing this tax could stimulate economic activity by reducing the financial burden on citizens. He urged the authorities to take immediate action to reflect the lower international oil prices in domestic petrol rates.

On October 15, the government raised the high-speed diesel (HSD) price by Rs5 per litre in response to international market changes, while keeping the petrol price stable at Rs247.03 per litre for two weeks. Analysts expect a potential price cut in the next review period starting November 1.

Key Information Table

Heading Details
Leader’s Demand Rs30 per litre petrol price cut
Reason for Demand Global crude oil prices below $67 per barrel
Current Petrol Price Rs247.03 per litre
Government Levy on Petrol PKR 60 per litre (described as unjust)
Date of Last Price Increase October 15 (for high-speed diesel)
Expected Review Date November 1, 2024
Potential Economic Impact Could boost economic activity if prices are lowered

Rehman’s appeal reflects rising consumer concerns over fuel costs and aims to prompt government action to provide financial relief.

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