The government has decided to start increasing levy on petrol and diesel on a monthly basis from September, on Wednesday.
Rendering to the letter of intent sent by Pakistan to the International Monetary Fund (IMF), there will be a step by step upsurge in the levy until it reaches Rs50 per liter.
1) Mir sahib I said I will not add one penny of new taxes or levies to the price. And I have not. But you know Hamid sahib that the fuel price summary is moved by OGRA and sent to Finance division through the Petroleum division. We get it only a few hours before prices are set. https://t.co/38N2PD3qyQ
— Miftah Ismail (@MiftahIsmail) August 16, 2022
The government has decided to do away with subsidy on petroleum and energy sector.
Much to the humiliation of ordinary people, the federal government, on (Monday, August 15, 2022) increased the price of petrol by Rs6.72 per liter subsequent which it reached Rs233.91 per liter.
The price of high speed diesel was cheap by only 51 paisa per liter to grasp Rs244.44 per liter.
Read Also: Miftah Ismail: No more taxes & levies on petroleum products
The price of kerosene (oil) was also reduced by Rs1.67 per liter to extent Rs199.40 per liter.
It is relevant to reference here that the oil prices had come down in the global market by $4 on the same day.