Wednesday, June 19, 2024

Govt fulfilled condition of IMF by making petroleum levy Rs. 50/Liter

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.

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. This increase takes into account the federal government’s earlier decision to increase the petroleum development fee to Rs. 50 per litre before January 2023 in order to comply with a crucial IMF requirement (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.

Related Articles

Latest Articles