The government has increased the petroleum development levy (PDL) on petrol by Rs. 14.84, denying the public relief in price of petrol.
According to the price breakup issued by Arif Habib Limited, the ex-refinery price of petrol came down by 8 percent to Rs. 164. 85 on October 16 from Rs. 179.18 on October 1.
However, no relief was passed on to the consumers as the government jacked up the petroleum development levy (PDL) on petrol from Rs. 32.42 per liter to Rs. 47.26 per liter, an increase of more than 45 percent keeping the petrol price at Rs. 224.80 per liter for the next fortnight.
It is pertinent to mention here that former Finance Minister Miftah Ismail had called the government’s decision to keep the petroleum development levy (PDL) unchanged at the last fortnightly review of petroleum prices a “reckless decision”.
However, in response, Finance Minister Ishaq Dar had said in a statement that that he knows how to deal with the International Monetary Fund (IMF) and no one has to worry about it anymore.
“I have to handle the IMF matters, so from now on, neither Miftah nor anybody else has to worry about anything,” he added.
The substantial increase in the levy suggests that the finance minter failed to convince the IMF on the matter.
Source: Pro Pakistan