Petrol is likely to cost another Rs 30 in the country, with the government mulling a 17 per cent GST on petroleum products.
IMF has asked Pakistan to increase the tax revenue target.
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The government also plans to increase the existing ceiling of Petroleum Development Levy by Rs 20-30 per liter from Rs 50 per liter to Rs 70-80 per liter and impose 17% GST on petroleum products so that petroleum Levy’s target can achieved.
Govt jacks up petrol prices:
Finance Minister Ishaq Dar on Sunday publicized that the federal government decided to increase the prices of petrol and diesel by Rs35 per liter, which will be valid from 29 January. Now again petrol likely to cost Rs. 30 more in the country.
In a televised address, Ishaq Dar said that 11 percent rise witnessed in the prices of petrol products in the international market.
Government increases petroleum levy on diesel. Dar additional publicized that the prices of kerosene oil and light diesel oil increased by Rs18 per liter.
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Later the latest round of hikes, petrol priced at Rs249.80. Diesel at Rs262.80, kerosene oil at Rs189.83 and light diesel at Rs187.