ISLAMABAD: The newly-elected Shehbaz Sharif government, in its first fuel price revision on Friday, maintained the price of petrol but slashed diesel for the next fortnight.
In an announcement before midnight, the Ministry of Finance said the price of petrol remains Rs279.75 per litre, while the price of high-speed diesel has been decreased by Rs1.77 to Rs285.56 per litre.
The premium on the import of high-speed diesel has remained unchanged at $6.50 per barrel.
The government has already imposed a Rs60 per litre petroleum levy — the maximum permissible limit under the law — on both petrol and diesel. It is to mention here that the government had set a target of Rs869bn collection under the head of petroleum levy during the current fiscal year under the commitments made to the International Monetary Fund (IMF).
The government has already collected over Rs475bn in the first half (July-December) of the current financial year. At present, it is charging about Rs82 per litre tax on both petrol and diesel with the general sales tax (GST) zero on all petroleum products.
