ISLAMABAD – The federal government jacked up petroleum levy on high-speed diesel (HSD) by Rs1.72 per litre, taking the levy to the maximum Rs80 per litre as per commitments under International Monetary Fund (IMF) programme.
The petroleum levy on petrol, meanwhile, has been retained at Rs80 per litre. In addition to the petroleum levy, the government continues to impose a climate support levy of Rs5 per litre on both petrol and diesel. The development comes as the government weighs measures to provide relief to consumers amid pressure over petroleum prices.
The latest levy increase comes as the government seeks to meet its fiscal commitments while simultaneously exploring ways to contain the impact of fuel prices on consumers.
On Wednesday, Federal Petroleum Minister Ali Pervaiz Malik said the government was making every possible effort to address public concerns over fuel prices. He said oil refineries were prepared to reduce prices by between Rs20 and Rs32 per litre, adding that the Oil and Gas Regulatory Authority (OGRA) would announce its decision on petroleum product prices shortly.
“We will make every possible effort to resolve the problems faced by the public,” the petroleum minister said.
Malik also said the government was taking steps to ensure adequate storage of crude oil in the country. He added that he would personally visit Karachi refineries next week to assess the situation.
The minister said Prime Minister Shehbaz Sharif had directed the relevant authorities to take necessary measures in view of the prevailing situation. “We will not leave the people helpless under any circumstances,” Malik assured.
Pakistan’s Petrol Price surges Past Rs334 as Diesel races toward Rs400
