The government has decided to raise the Petroleum Development Levy (PDL) rate over the next two months in order to make up for a revenue shortfall, which will cause the price of diesel to increase by Rs10 a litre.
Although the government had set a target collection amount of Rs. 855 billion for PDL, its actual collection was only expected to be Rs. 680 billion.
Thus, the government has decided to raise the PDL rate by Rs 5 per litre on diesel starting in March and by Rs 5 per litre starting in April 2023 in order to close this Rs 175 billion gap.
Currently, the government imposes a Rs. 50 fee every litre of gasoline.
