Lahore High Court (LHC), on Saturday, received a petition challenging the recent hike in prices of petroleum products. Advocate Azhar Siddiqui moved the petition; requesting the court to set aside the government’s decision of skyrocketing prices of petroleum products.
His petition stated that while the prices of petroleum products had decreased in the global market, the federal government had increased fuel prices.
The government was already charging taxes on petroleum products; taking a heavy toll on consumers, he added. Earlier on May 3, the Economic Coordination Committee (ECC) had approved an increase in the prices of petroleum products by Rs 9 per litre for the month of May.
The price of petrol stands at Rs 108 per litre after the increase. The meeting also approved the proposed increase in diesel price by Rs 4.89 per litre; light diesel by Rs 6.40 per litre and kerosene by Rs 7.46 per litre. Prime Minister Imran Khan had referred the matter to the ECC in the wake of a recommendation by Oil and Gas Regulatory Authority (OGRA) to increase petrol prices by over Rs 14 per litre. The decision was taken in the wake of an increase in the prices of crude oil in the international market as well as the devaluation of Pakistani currency.