Govt hikes PDL, keeping fuel prices unchanged: sources

ISLAMABAD: The federal government has enhanced the petroleum development levy (PDL) to 50 rupees on petrol and diesel, citing sources ARY News reported on Tuesday.

“The government has met the demand of the International Monetary Fund (IMF) with regard to the PDL increasing the levy on petrol by 2.74 rupee from November 1st (today),” sources said.

However, current prices for petrol kept unchanged at Rs224.80 per litre.

“The petrol has ex-factory price 164.47 per litre, sources said. Earlier, on October 16 per liter PDL on petrol and diesel was 47.26 rupee, according to sources. “Dealers’ per litre commission has been 7 rupees and companies’ profit is 3.68 rupee per litre,” sources said.

Per litre price of diesel has also been maintained at 235.30 rupee per litre.

The federal government yesterday decided to keep the prices of petroleum products unchanged for the next fortnight.

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

It is to be mentioned here that 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.

The National Assembly in June passed an amendment in the Finance Bill to approve Rs 50 per litre petroleum development levy on all POL products.

Then finance minister Miftah Ismail told the house that 50 rupees per litre will not be imposed in one go. The levy will be gradually increased by Rs 5 per month to reach a maximum of Rs 50, he said.