In line with International Monetary Fund( IMF) conditions, the caretaker government has enforced another hike in the tax on petroleum products.
The rearmost advertisement entails an increase of Rs14.91 per liter on petrol, along with a swell of Rs18.44 per liter on high- speed diesel( HSD). As a result of these price hikes, the rates of petroleum products have soared above the Rs 300 per liter mark for the first time in history.
presently, the price of petrol has been set at Rs305.36 per liter, while diesel stands at Rs311.84 per liter. also, the caretaker government has assessed an redundant Rs 5 tax on petrol, raising the total tax on petrol from Rs 55 to Rs 60, aligning with the IMF’s reservations.
It’s noteworthy that the former Pakistan Democratic Government( PDM) had approved the hike in the tax on energy products as part of the budget. Meanwhile, sources within the Finance Ministry have indicated that the petroleum development tax on high- speed diesel( HSD) remains unchanged at Rs 50 per liter.