The Caretaker government has taken yet another step to meet one of theInternational Monetary Fund’s (IMF) conditions. Last night, theyimplemented a significant increase in the levy imposed on petroleumproducts, demonstrating their commitment to fulfilling the IMF’s demands.
In this latest development, the caretaker setup announced a price hike ofRs 14.91 per litre on petrol. Simultaneously, the price of high-speeddiesel (HSD) experienced an even more substantial increase, rising by Rs18.44 per litre. This move reflects the government’s efforts to generaterevenue and stabilize the economy.
This surge in petroleum product rates has led to a historic milestone, withprices now exceeding the Rs 300 per liter threshold for the very firsttime. Specifically, petrol is now priced at Rs 305.36 per litre, whilediesel stands at Rs 311.84 per litre. These prices are causing significantfinancial implications for consumers.
In addition to the base price adjustments, the caretaker government hasalso fulfilled another IMF requirement by imposing an additional Rs 5 levyon petrol. This increase takes the total levy on petrol from Rs 55 to Rs 60per litre. The government’s decision to increase levies further reflectsits dedication to meeting international financial commitments.
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It’s important to note that the former Pakistan Democratic Government (PDM)had initially approved the increase in the levy on fuel products as part ofthe budgetary measures. This latest move by the Caretaker government alignswith their broader fiscal strategy to navigate the country’s economicchallenges and meet international
