Petroleum levy absorbs expected relief to public 

By Ali Imran

 ISLAMABAD: The federal government, in their bi-monthly price fuel adjustment, maintained the current fuel prices by adjusting the possible relief of Rs14.84 into the petroleum levy, taking the levy to Rs47.26, ARY News reported.

The Oil and Gas Regulatory Authority (OGRA) had suggested reducing the petroleum price by Rs14.84 and increasing Diesel prices by Rs5.44. The suggested price drop was added to the petroleum levy, taking the total levy on fuel to Rs48.26.

The levy before the adjustment was Rs32.42.

OGRA had also recommended increasing kerosene oil price by Rs6.04, hi-speed diesel by Rs5.44 and light diesel by Rs8.41.

However, the federal government overlooked the OGRA recommendations and maintained the current prices until the end of the month.

It is to be noted that under the monetary relief deal with the International Monetary Fund (IMF) the government is obligated to apply an Rs50 levy on petroleum.

IMF had provided Pakistan with a loan tranche of over $2 billion in a severe financial crisis.

According to the notification, the petrol price remained unchanged at Rs224.80 per litre, Rs235.30 for high-speed diesel (HSD), Rs191.83 for kerosine oil and Rs186.50 for light diesel.

While on September 30, the newly appointed finance minister Ishaq Dar announced to the reduction of petroleum prices by Rs12.