Under IMF pressure, federal government increases petroleum levy to Rs 50/litre
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The federal government has deprived the citizens of the relief in the petrol price by not passing the slump in global rates to the users, instead using it to increase the levy on petrol by Rs2.74 to Rs50 per litre.
It is to be noted here that the federal government has the power to levy a maximum of Rs50 levy on petrol.
Besides, the levy on high speed diesel has also been increased by Rs5.45 to Rs12.59 per litre.
The sales tax rate on petrol will remain zero.
It merits a mention here that if the levy was not increased, relief in the petrol price could have been passed on to the people.
The new rate of levy on petrol has been implemented from today.
