IMF target: Govt jacks up levy on diesel to Rs35/litre

ISLAMABAD: Acting on the International Monetary Fund’s (IMF) demand, the federal government jacked up the levy on diesel to Rs35/litre, ARY News reported on Monday, quoting well-placed sources.

The masses have been again deprived of relief from the downing fuel price at the international market as the government jacked up the levy on diesel to Rs2.50 per litre with effect from January 16, 2023.

Meanwhile, the margin of Oil Marketing Companies (OMCs) has been jacked up by Rs1 on petrol, the sources said. The margin of levy on petrol stands unchanged at Rs50/litre.

Under the IMF [International Monetary Fund] agreement, the government seeks Rs855 billion through petroleum development levy in the current fiscal year, 2022-23.

Read more: Petrol, diesel prices to remain unchanged till Jan 31

It is worthwhile mentioning here that Finance Minister Ishaq Dar on Sunday announced that the prices of petrol and diesel would remain unchanged for the remaining 15 days of January.

In a televised address, Dar said: “The government has decided to maintain the price of petroleum products for the next 15 days”.

Next revision on the prices will be made on January 31, he added.

Accordingly, petrol would be sold at Rs214.80 per litre, high-speed diesel at Rs227.80 per litre, kerosene oil at Rs171.01 per litre and light diesel oil at Rs169 per litre.