Govt increases petroleum levy instead of offering relief
Business
Had the levy not been increased, petrol could have been cheaper by Rs8 per litre
ISLAMABAD (Dunya News) - The government has increased the petroleum levy on petrol and diesel instead of lowering prices.
According to official sources, the petroleum levy on petrol has been raised by Rs8.02 per litre, bringing the total levy to Rs78.02 per litre. Similarly, the levy on diesel has been increased by Rs7.01, now standing at Rs77.01 per litre.
Also Read: Govt keeps petroleum prices unchanged
Analysts pointed out that had the levy not been increased, petrol could have been cheaper by Rs8 and diesel by Rs7 per litre.
The move has drawn criticism from the public, who were expecting a reduction in prices amid reduction of petroleum prices in international market.
The federal government on Tuesday announced it had kept the prices of petroleum products unchanged for the next fortnight. The savings, it was said, would be used to upgrade the country's infrastructure.
Chairing a federal cabinet meeting in Islamabad, Prime Minister Shehbaz Sharif said, “The government decided not to pass on the benefit of lower fuel prices in the international market to people. Savings from petroleum prices will be used to heal the nation’s wounds.”
Following this decision, petrol will remain priced at Rs254.63 per litre, and high-speed diesel at Rs258.64 per litre.
The PM said the funds would be used to complete the most important highway of Balochistan, the N-25, which links Chaman, Quetta, Kallat, Khuzdar and Karachi.
Earlier, Prime Minister Shehbaz Sharif said petroleum prices would be slashed.
