IMF's another condition fulfilled by Pakistan

The Caretaker government met another condition of the International Monetary Fund (IMF) by further increasing the levy on petroleum products last night, ARY News reported on Friday.

According to the details, the caretaker setup announced another price hike of Rs 14.91 per litre on petrol. While the price of high-speed diesel (HSD) has been increased by Rs18.44 per litre.

Following a recent surge in prices, petroleum product rates have surpassed the Rs 300 per liter threshold for the very first time in history, meanwhile, the price of petrol fixed at Rs 305.36 and diesel to Rs311.84.

READ: Petrol prices hiked by Rs 14.9 per litre

Along with this price hike, the caretaker government has met another condition of the IMF by further imposing Rs 5 levy on petrol, after this increase the levy on petrol has reached from Rs 55 to Rs 60.

It is pertinent to mention here that the former Pakistan Democratic Government (PDM) government approved the increase in the levy on the fuel products in the budget.

The sources within the Finance Ministry revealed that there is no change in the petroleum development levy on high-speed diesel (HSD) and the levy on it has remained at Rs 50 per litre.