The prices of petroleum products are expected to raise by up to Rs4/ ltr, in the third week of November in order to collect more revenue from oil consumers amid the economic crunch according to the planning of federal government.
According to the reports, the growing prices of basic petroleum products comes as part of the government’s negotiations with the global lender.
Petrol and diesel are the two basic products that bring about the heavy revenue.
Previously, the petroleum charges on petrol and other petroleum products was increased to raise the revenue receipts however the tax charges by the centre are kept at a minimum.
