The government has deprived the masses of much-needed relief in the petroleum products (POL) prices as on Wednesday it issued a notification for an increase in the levy on petrol and high-speed diesel (HSD), reported 24NewsHD TV channel.
Sources told 24News TV channel that the levy on petrol, which was previously Rs70 per liter, was increased by Rs8.2 per liter to reach Rs78.2 per liter.
Similarly, the levy on HSD went up by Rs7.1 per liter, they informed.
Following the increase, the levy which was Rs70 per liter reached Rs77.1 per liter.
In just one month, the government increased the levy on petrol by Rs18.2 per liter, while on HSD by Rs17.1 per liter.
Hitherto, the government had the power to impose a levy up to Rs70 per liter on both petrol and HSD.
It is worth-mentioning here that the federal government had on Tuesday announced that the fuel prices would remain unchanged for the next two weeks, with the resulting savings to be invested in critical infrastructure projects across the country.
Presiding over a federal cabinet meeting in Islamabad, Prime Minister Shehbaz Sharif stated, “The government has decided not to transfer the benefit of declining fuel prices in the world to the public. Instead, the savings will be used to help rebuild and strengthen the nation.”
A major portion of the funds will go toward the dualization of the N-25 highway, a vital route connecting Chaman, Quetta, Kalat, Khuzdar, and Karachi.
The prime minister confirmed that while it will be a dual carriageway, the road will be constructed to meet motorway standards.
Following the cabinet’s decision, petrol will remain priced at Rs254.63 per liter, and high-speed diesel at Rs258.64 per liter.
The prime minister also announced the construction of the M-6 and M-9 motorways, which will link Sukkur to Hyderabad and Hyderabad to Karachi, respectively. These projects will also be financed using savings from reduced international petroleum costs.
In addition, the same funds will support the completion of Phase 2 of the Kachhi Canal project, aimed at irrigating vast tracts of agricultural land in Balochistan. The premier emphasized that the project would drive growth and development not only in Balochistan but across the entire nation.
“Pakistan’s four provinces are like four brothers — they will share resources equitably,” said the prime minister. “The prosperity of Pakistan is closely tied to the prosperity of Balochistan.”
During the meeting, the cabinet also approved an amendment to the Petroleum Products (Petroleum Levy) Ordinance 1961, a move aimed at boosting national revenue.
Reporter: Waqas Azeem