Govt increases petrol levy to Rs60 per litre

Islamabad: The interim government has increased the petrol levy by Rs5 per litre, bringing it to Rs60 per litre on Friday.

According to sources, there is no sales tax applied on petrol and diesel, while the tax on high speed diesel stays at Rs 50 per litre.

The former administration pledged the IMF in its deal that it would increase the petroleum charge to Rs60/L.

Earlier, the interim government on Friday increased the price of petrol by Rs 14.9 per litre, according to a notification issued by the Finance Ministry.

According to details, the price of petrol has reached to Rs305.36 per litre with increase of Rs 14.9 per litre.

Meanwhile, the price of high-speed diesel (HSD) has been increased by Rs18.44 per litre to Rs311.84.

Notably, several fuel stations across the country were shut down a couple of hours before anticipated hike.

The surge in fuel prices has compounded the misery of people already struggling with runaway inflation.

It would mean higher transportation costs, increased inflation, reduced economic activity and impact on the poor and vulnerable.