By Staff Reporter
ISLAMABAD: The government on Thursday imposed part of the Petroleum Levy on fuels, driving the prices of petroleum products up by Rs15-18, to the utter dismay of the inflation-gutted consumers.
“In view of the fluctuations in petroleum prices in the international market and exchange rate variation, the government has decided to partially apply a petroleum levy, and revise the existing prices of petroleum products as agreed with the development partners,” a Finance Division notification said
New prices take effect from July 1, 2022.
This increase brings the price of petrol at Rs248.74/litre, diesel Rs276.54/litre, kerosene oil at Rs230.26/litre, and the rate of light diesel oil will be Rs226.15/litre.
Since assuming office, the PDM government has raised the price of petrol by Rs84.
Speaking to the media, Finance Minister Miftah Ismail passed the buck for this hike on to the IMF as it was one of the prior actions demanded by the international donor.
“Imran Khan [government] had violated the agreement with the IMF to increase the petroleum levy every month,” the minister told media persons. He further said that the agreement with the global fund lending institution was moving forward smoothly and as per plan.
Miftah said the increase was made in view of the rising prices of petroleum products in the international market.
Earlier on Wednesday, the government passed Rs50 PL for every litre of petroleum products in the Finance Bill 2022-23 as demanded by the IMF. The ex-depot prices of both fuels are calculated based on their international market rates from June 14-28.
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