Petrol prices remain stable, diesel down by Rs1.77 per litre

 The government has reportedly achieved a Rs60 per litre petroleum levy, the maximum permissible limit under the law, on petrol and HSD. The government set a budget target to collect Rs869b as levy on petroleum products during the current fiscal year under the commitments made to the International Monetary Fund (IMF).

It has already collected about Rs475b in the first half (July-December) of the current fiscal year although the per litre levy was increased. The government is expected to mop up about Rs970b by the end of the year although the revised target has now been set at Rs920bn by end-June.

The government is charging about Rs82 per litre tax on petrol and HSD. Although the general sales tax (GST) is zero on all petroleum products, the government charges Rs60 per litre PDL on both products.