ISLAMABAD: Federal government has increased the petroleum levy by Rs14.84 to Rs47.26 per litre on petrol from October 16, 2022.
The government decided to keep the price of petrol unchanged at Rs224.80 per litre. The levy on petrol was Rs32.42 from October 1, 2022.
The increase in the Petroleum Levy has been imposed because of the conditions of the International Monetary Fund (IMF). Finance Minister Senator Ishaq Dar is currently in Washington for talks with IMF officials.
Under the agreement with the IMF, the government has to fetch a revenue of Rs850 billion during the current fiscal by jacking the Petroleum Levy up to Rs50 per litre on petrol and diesel.
