It seems we are going to get another jump in petrol price in Pakistan. If you guys remember, we told you that the government has agreed to take Petrol Levy to Rs. 50 under an agreement with International Monetary Fund (IMF). Now, there is an update on it as the media reported that the government has sent the letter of intent to IMF after fulfilling the conditions.
Levy on Petrol & Diesel
As per sources, the government has assured IMF in this letter that it will increase the fuel prices in Pakistan by imposing a levy up to Rs. 50. “The government will impose a levy of Rs. 10 on petrol and Rs. 5 on diesel from September 1,” the sources said.
It means that the petrol levy will reach Rs. 30 from current Rs. 20, while diesel levy will be Rs. 15. The sources added that the government would gradually hike the petroleum levy up to Rs. 50 by 2023.
So, if the prices in the global market would not come down, we will get another price hike after a fortnight. And this is surely not a good news for the people.
Current Petrol Price in Pakistan
After a shock bomb by the government a couple of days ago, these are current fuel prices in Pakistan:
- Petrol now costs Rs. Rs233.91 as compared to Rs. 227.19.
- New Diesel rate is Rs. 244.44 instead of Rs. 244.95 after seeing a reduction of Rs. 0.51.
- The latest rate of Kerosene Oil is Rs. 199.40 against Rs. 201.07 as it saw a decrease of Rs. 1.67.
- Last but not least, Light Diesel Oil now costs Rs. 191.75 compared to the previous rate of Rs. 191.32 as its price is increased by Rs. 0.43.
The petrol price in Pakistan has always been a critical issue because it is directly linked the daily lives of the masses. So, let us hope for the best on September 1, and pray for global prices to come down till then.
What is your take on this levy on petrol price in Pakistan? Please share your thoughts in the comments section.
