{"id":68785,"date":"2020-08-01T09:53:00","date_gmt":"2020-08-01T04:53:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=68785"},"modified":"2020-07-30T18:13:41","modified_gmt":"2020-07-30T13:13:41","slug":"govt-create-cost-cushion-petroleum-levy-tackle-price-volatility","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/govt-create-cost-cushion-petroleum-levy-tackle-price-volatility.html","title":{"rendered":"Govt to create cost cushion on petroleum levy to tackle price volatility"},"content":{"rendered":"\n<p>Islamabad: The federal government has decided to create a cost cushion of PKR 5 to 10 per litre on its revised petroleum levy in order to tackle volatility in the prices of petroleum products in the country \u2014 a news source reported on July 30.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/govt-automated-petroleum-sector-streamline-countrywide-fuel-supply.html\" target=\"_blank\" rel=\"noreferrer noopener\">Govt for automated petroleum sector to streamline countrywide fuel supply<\/a><\/p>\n\n\n\n<p>Reportedly, the Economic Coordination Committee (ECC) of the cabinet has already approved the plan proposed by the Petroleum Division. The decision will now be presented for approval before the cabinet in its next meeting.<\/p>\n\n\n\n<p>It is expected that as a result of these changes, the diesel prices will rise by approximately PKR 8.5 per litre, while the petrol prices are expected to rise by PKR 5.1 per litre. However, according to sources, the government will not increase the prices before Eid.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/ogra-serves-show-cause-notice-to-6-petroleum-firms-over-oil-shortage.html\" target=\"_blank\" rel=\"noreferrer noopener\">OGRA serves show-cause notice to 6 petroleum firms over oil shortage<\/a><\/p>\n\n\n\n<p>The ECC had also approved changes in the petroleum pricing mechanism, according to which the prices will be updated every 2 weeks. The change is expected to ensure fair competition, along with tackling volatility in prices.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The federal government has decided to create a cost cushion of PKR 5 to 10 per litre on its revised petroleum levy in order to tackle volatility in the prices of petroleum products in the country \u2014 a news source reported on July 30. Read: Govt for automated petroleum sector to streamline countrywide fuel supply Reportedly, the Economic Coordination Committee (ECC) of the cabinet has already approved the plan proposed by the Petroleum Division. The decision will now be presented for approval before the cabinet in its next meeting. It is expected that as a result of these changes, the diesel prices will rise by approximately PKR 8.5 per litre, while the petrol prices are expected to rise by PKR 5.1 per litre. However, according to sources, the government will not increase the prices before Eid. Read: OGRA serves show-cause notice to 6 petroleum firms over oil shortage The ECC had also approved changes in the petroleum pricing mechanism, according to which the prices will be updated every 2 weeks. The change is expected to ensure fair competition, along with tackling volatility in prices.<\/p>\n","protected":false},"author":57,"featured_media":64402,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[36112,36115,35937,36113,36114],"persona":[],"class_list":{"0":"post-68785","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-cost-cushion","9":"tag-govt-to-create-cost-cushion-on-petroleum-levy-to-tackle-price-volatility","10":"tag-oil-prices","11":"tag-petroleum-levy","12":"tag-prices-of-petroleum-products","13":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Govt to create cost cushion on petroleum levy to tackle price volatility - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The federal government has decided to create a cost cushion of PKR 5 to 10 per litre on its revised petroleum levy in order to tackle volatility in the prices of petroleum products in the country \u2014 a news source reported on July 30.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/govt-create-cost-cushion-petroleum-levy-tackle-price-volatility.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt to create cost cushion on petroleum levy to tackle price volatility - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The federal government has decided to create a cost cushion of PKR 5 to 10 per litre on its revised petroleum levy in order to tackle volatility in the prices of petroleum products in the country \u2014 a news source reported on July 30.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/govt-create-cost-cushion-petroleum-levy-tackle-price-volatility.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-01T04:53:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/04\/oil-refinery-.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Muhammad Farhad\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Muhammad Farhad\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Govt to create cost cushion on petroleum levy to tackle price volatility - Zameen News","description":"Islamabad: The federal government has decided to create a cost cushion of PKR 5 to 10 per litre on its revised petroleum levy in order to tackle volatility in the prices of petroleum products in the country \u2014 a news source reported on July 30.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/govt-create-cost-cushion-petroleum-levy-tackle-price-volatility.html","og_locale":"en_US","og_type":"article","og_title":"Govt to create cost cushion on petroleum levy to tackle price volatility - Zameen News","og_description":"Islamabad: The federal government has decided to create a cost cushion of PKR 5 to 10 per litre on its revised petroleum levy in order to tackle volatility in the prices of petroleum products in the country \u2014 a news source reported on July 30.","og_url":"https:\/\/www.zameen.com\/news\/govt-create-cost-cushion-petroleum-levy-tackle-price-volatility.html","og_site_name":"Pakistan Real Estate News &amp; 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