ECC approves raising petroleum levy to Rs50 under IMF conditions

The Economic Coordination Committee (ECC) of the federal cabinet has approved increasing the levy on petroleum products as required by the IMF deal, ARY News reported. 

According to details, the petrouelm levy on High-Octane has been increased to Rs50. The levy on High-octane petroleum products will be applied from Nov 15 to Nov 30.

Currently, the levy on high-octane petroleum products is Rs30. The increase has been made as per the conditions of the International Monetary Fund (IMF).

However, on November 31, the federal government decided to keep the prices of petroleum products unchanged for the next fortnight besides extending the last date for filing tax returns.

Addressing a press conference in Islamabad, Finance Minister Ishaq Dar has asserted that the government has decided to keep the prices of petroleum products unchanged for the next 15 days.

Also Read: Petroleum prices to remain unchanged: Ishaq Dar

The current prices for petrol are Rs224.80 per litre, Rs235.30 for Highs Speed Diesel (HSD), Rs186.50 for Light Diesel and Rs191.83 for kerosene oil.