Govt increases petrol levy to Rs60 per litre

The caretaker government has increased the petrol levy by Rs5 per litre, bringing it to Rs60 per litre, reported 24NewsHD TV channel on Friday.

According to sources, the levy on high speed diesel remains unchanged at Rs50/litre and no sales tax has been levied on petrol and diesel.

In its agreement reached with the IMF, the previous government assured the global lender that it would raise the petroleum levy to Rs60/L.

Last night, the caretaker government announced a big increase in the price of petroleum products, citing rising global rates and devaluation of Pakistani currency.

According to the notification issued by the Finance Division, the price of petrol went up by Rs14.91 per litre and diesel by Rs18.44 per litre.

The hike in fuel prices has come just a fortnight after Rs17.50 and Rs20 per litre increase in petrol and HSD prices.

After the last night’s increase in the fuel prices, the ex-depot price of high speed diesel has been set at Rs311.84 per litre and the ex-depot petrol price has been fixed at Rs305.36 per litre for the next 15 days.

Currently, there is no sales tax on all POL products but the government has imposed Rs60/L Petroleum Development Levy on petrol and Rs50/L PDL on HSD and high octane blending component and 95 RON (research octane number) petrol.

Besides this, the government is also taking Rs18-22/L customs duty on petrol and HSD.

 

Reporter Waqas Azeem