Karachi Pakistan(April 5, 2025) Hanif Gohar Secretary General UBG Southern Zone of the United Business Group (UBG) Chairman Gohar Group of Company and former SVP of FPCCI, has urged the government to significantly reduce petrol and diesel prices in line with the 12% drop in global market prices over the last 10 days.
Hanif Gohar stated that the current crude oil price is $61.99, which was $72 two weeks ago.
He said that the government had recently increased the petroleum development levy (PDL) on petrol and diesel from Rs 60 to Rs 70 per liter but announced that its impact would be redirected to electricity consumers.
However, it is believed that oil consumers will provide an additional Rs 58 billion in PDL to cross-subsidize electricity consumers. The government is collecting extra from the public through higher petrol prices and providing the benefit of lower electricity prices, but this relief will only apply for three months to all power distribution companies, including K-Electric.
Hanif Gohar praised the reduction in electricity prices and stated that the decision to reduce petroleum product prices on April 15 will be appreciated by the public. He added that this will reduce inflation and lower production costs for export industries.
Hanif Gohar emphasized that petrol prices are at their lowest level in the global market, but they are not being reduced in the country.
He reiterated the demand for an immediate reduction in petrol prices and called for the cessation of the additional collection through petroleum levy.
