The federal government has enhanced the petroleum development levy (PDL) to 50 rupees on petrol and diesel.
“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 rupees from November 1st (today),” sources said.
However, current prices for petrol kept unchanged at Rs224.80 per litre.
The petrol has an ex-factory price of 164.47 per litre, sources said. Earlier, on October 16 per litre 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 rupees per litre,” sources said.
Diesel’s per-litre price has also been maintained at 235.30 rupees.
Yesterday, the federal government decided to keep the price of petroleum products for the ensuing two weeks.
Ishaq Dar, the finance minister, announced the government’s decision to maintain the prices of petroleum products at their current levels for the ensuing 15 days during a press conference in Islamabad.
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 Finance Bill was amended by the National Assembly in June to authorise a Rs 50 per litre petroleum development fee on all POL products.
The house was then informed by finance minister Miftah Ismail that the 50 rupees per litre price increase would not be implemented all at once. According to him, the fee will gradually rise by Rs 5 every month, up to a maximum of Rs 50.
