Govt increases petroleum levy by Rs6.29 | Pakistan Today

Govt increases petroleum levy by Rs6.29

ISLAMABAD: The government has deprived the customers of reaping full benefit of the declining global oil prices by increasing petroleum levy on petrol by Rs6.29 per litre for June, Pakistan Today has learnt.

Sources said that instead of letting customers enjoy the full benefits of the declining oil prices in the international market, the government increased the petroleum levy to minimise its revenue losses.

They said that ‘record high’ petroleum levy was increased on the recommendation of the Finance Ministry to increase government’s revenue by Rs6 billion in June and to meet shortfall of Rs188 billion.

They added that for the first time in the last 15 years, the ratio of petroleum levy on POL products, especially petrol, is higher than ever, however, the Finance Ministry, Petroleum Division and other concerned departments are yet to make the notified rates public.

On Sunday, the government reduced the prices of petrol by Rs7.06 per litre. Similarly, the prices of light-diesel oil and kerosene oil were also slashed by Rs0.37 per litre and Rs11.88 per litre. However, it increased high speed diesel by five paisa per litre effective for the month of June.