Govt Meets IMF Condition of Rs. 50/Liter Petroleum Levy

The Federal Government has increased the petroleum levy (PL) on Petrol by Rs. 2.74 per liter after keeping the prices of petroleum products unchanged.

Following the increase, the petroleum levy on petrol has risen to Rs. 50 per liter, according to official documents available with ProPakistani.

MS Petrol’s ex-refinery price increased from Rs. 164.47 to Rs. 164.85 on 1 November 2022 while the Inland Freight Equalization Margin (IFEM) went from Rs. 0.35 a liter to Rs. 2.01. The dealers’ margin remained unchanged at Rs. 7 per liter and the Petroleum Levy increased from Rs. 47.26 a liter to Rs. 50, which brought the total price to Rs. 224.80 per liter.

The general sales tax (GST) on petrol is still zero.

This hike comes in consideration of the federal government’s earlier decision that the petroleum development levy would be upped to Rs. 50 per liter before January 2023 in order to fulfill a key condition of the International Monetary Fund (IMF).

Meanwhile, the government announced yesterday to keep POL prices unchanged. The price of petrol will remain at Rs. 224.80 per liter, high-speed diesel (HSD) at Rs. 235.30, light diesel oil (LDO) at Rs. 186.50, and kerosene at Rs. 191.83.



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