Sources suggest that Pakistan is gearing up for yet another increase in petroleum prices, with petrol expected to surge by Rs9.5 per liter from April 1.
This hike could push the new price of petrol to range from Rs279.75 to Rs289.25. Additionally, the government is contemplating raising the petroleum levy from Rs60 to Rs100 per liter to meet IMF demands.
Read also: Interim Government Hikes Petrol Price by Rs 4.13/L
The proposal includes imposing General Sales Tax (GST) on petroleum, aiming to restore the standard 18% rate as demanded by the IMF.
Currently, petrol and diesel carry a levy of Rs60 per liter, generating an estimated revenue of Rs950 billion annually. Amidst global oil price fluctuations, the government has maintained the price of petrol but reduced the price of high-speed diesel by Rs1.77 per liter on March 15.
While the Ministry of Finance regularly reviews petroleum prices to align with international market trends, sources indicate potential reductions in the prices of light diesel oil and kerosene as well.
This post was last modified on March 27, 2024 3:25 pm
A stunning array of colored lights illuminated the Chinese sky, leaving observers astounded by an…
In what could be described as a romantic twist on history's most infamous union, Henry…
New Zealand Posts Record Partnership as They Crush United Arab Emirates in T20 World Cup…
Everything You Need to Know About Bangladesh's 2026 Elections Bangladesh is gearing up for its…
As speculation about Cardi B's breakup with NFL player Stefon Diggs persisted, the rapper appeared…
A shocking new chapter in Norway’s political scandal has emerged, as police investigations into high-profile…
This website uses cookies.
