The new prices for petrol and diesel have been announced in Pakistan for July 30. The price of petrol has been reduced while the price of diesel has been increased.
The Petroleum Division issued a notification with the updated prices. According to the notification, the price of petrol has been reduced by Rs0.75 per litre, while the price of diesel has been increased by Rs2.24 per litre.
The new prices will be effective on July 30. The government recently decided to review fuel prices on a daily basis due to the changing situation in the region.
Under the new system, OGRA will announce fuel prices without needing approval from the prime minister or the government. However, the same prices will remain in effect on Saturdays and Sundays.
On July 29, the price of petrol was increased by Rs1.63 per litre, while diesel went up by Rs1.55 per litre.
Rs1.259 billion petrol tax fraud uncovered
Pakistan Customs has uncovered an alleged Rs1.259 billion tax fraud involving imported petrol.
According to officials, the fraud involved the illegal removal of imported MOGAS RON-92 from bonded warehouses without paying customs duty, taxes and the Petroleum Levy.
Authorities said fake documents and false declarations were used to carry out the fraud. An investigation is now underway.
Officials said an FIR has been registered against Flow Petroleum (Pvt.) Ltd. directors Muhammad Waris and Muhammad Asif.
The FIR also includes an investigation into the possible role of PAPCO in the movement of fuel through the White Oil Pipeline.
According to Customs, the operation helped uncover what officials described as the country’s biggest petroleum tax evasion case. They said it also prevented further losses to the national treasury.
The FIR states that 6,975.454 metric tonnes, or about 9.64 million litres, of imported petrol were removed without paying the required duties and taxes.
Investigators said the fuel was moved using fake Safe Transportation Goods Declarations, forged documents and false information to avoid legal import procedures.
