By Ali Imran
ISLAMABAD: The Pakistan government is expected to generate Rs17 billion in additional revenue by June 30 following a fresh hike in the petroleum levy, media reported on Thursday, citing sources.
The increase comes as part of the government’s commitment to the International Monetary Fund (IMF), with the petroleum levy raised across multiple fuel categories, resulting in an estimated monthly gain of Rs7 billion for the treasury. As per the revised structure, the petrol levy has been increased by Rs8.02, bringing the total to Rs78.02 per litre. High-speed diesel now carries a levy of Rs77.01 per litre after a Rs7.01 hike.
The petroleum levy on kerosene oil was raised by Rs7.99, pushing it to Rs18.95 per litre. Light diesel oil saw an increase of Rs7.62, with the levy now standing at Rs15.37 per litre. On HOBC (High-Octane Blending Component), the levy has also been raised by Rs8.02 per litre.
On Tuesday, the federal government announced to keep the prices of petroleum products unchanged for the next fortnight in Pakistan.
As per a notification issued, the price of petrol were kept unchanged at Rs254.63 per litre for the next 15 days.
The price of high-speed diesel also remained unchanged at Rs258.64 per litre.
The announcement followed a statement from Prime Minister (PM) Shehbaz Sharif, who said that the prices would not be reduced for the next fortnight. Instead, he said that the benefits of declining global oil prices to consumers would be passed through uplift projects.
