LAHORE: A petition was filed in the Lahore High Court (LHC) on Friday challenging recent increase in prices of petroleum products.
The petition has been filed by a citizen Munir Ahmed through his lawyer Azhar Siddique. He has made the petroleum minister, the Oil and Gas Regulatory Authority (Ogra) and others as respondents in the case. The petitioner argued that the increase in petroleum prices was illegal and pleaded the high court to declare the notification issued by the government to jack up the prices null and void.
The increase in petroleum prices is part of the government’s efforts to revive the much-needed loan programme of the International Monetary Fund (IMF) that is stalled since September last.
Earlier, Minister for Finance Ishaq Dar presented the Finance Supplementary Bill 2023 in the lower house to fulfill the conditions of the international lender to secure the much-needed loan programme that would help the country stave off default.
Under the budget proposals, General Sales Tax (GST) on luxury items will be increased from 17% to 25% and Federal Excise Duty (FED) on business and first-class air tickets will also be increased to Rs20,000 or 50% — whichever is higher. The finance minister also proposed imposing 10% withholding adjustable advance income tax on bills of wedding functions, and an increase in FED on cigarettes, soft and sugary drinks.
