ISLAMABAD: Senior journalist Shahbaz Rana has revealed that there has been significant progress on the issue of petroleum levy between the government and the IMF. According to him, the IMF had demanded that Pakistan impose a levy of up to Rs 80 per liter on diesel and petrol.
According to sources, the issue was discussed in an important meeting held at the Prime Minister’s House, where it was informed that there is a gap of Rs 53 per liter regarding the increase in the levy. The meeting directed the Finance Ministry to discuss the issue with the IMF and try to get some concessions.
Initially, the Finance Ministry was not ready to discuss the issue with the IMF, mainly because the IMF board approved the next tranche of $ 1.2 billion on May 8. However, negotiations were held later, as a result of which the IMF showed partial flexibility.
The Rs 53 per liter levy has been allowed to be increased in two installments instead of being implemented all at once. The immediate burden on the public has been reduced after this decision, while the remaining increase is expected next week.
According to experts, even if oil prices in the global market decrease, the levy increase will continue. Therefore, the decrease or increase in the prices of petroleum products will now depend on the international market as well as the government’s tax policy.
