1. Petrol price
The cost of a liter of petrol increased to Rs 265.61. “Rising trend in the global market” was the reason for price increases. Taxes and duties have remained the same, according to the Finance Division. Petrol prices increased by Rs 7.45 per liter and diesel by Rs 9.56 under PM Shahbaz Sharif. The Minister of Finance published a notice on the increase in petroleum prices by the internal budget. To calculate consumer prices, the OGRA looked at price changes in the global market. The price of diesel increased by 0.56 to Rs 277.45 per liter by the notice. The increase in fuel costs will take effect on July 1.The government had earlier on June 15 declared a decrease in gas prices as a unique Eid-ul-Adha present to the people. After the cut, the cost of new gasoline was Rs258.16 per liter, while the cost of HSD is Rs267.89 per liter.
2. Levy for petroleum development
Finance Minister Muhammad Aurangzeb stated earlier today that the Petroleum Development Levy (PDL) is not rising at this time and that the existing rate of 70 rupees PDL will not be applicable.
The government’s dedication to financial stability and openness through continuing reforms and initiatives was emphasized during the FinMin press conference.
The actions outlined are meant to foster investor confidence, reduce corruption, and ensure Pakistan’s continued economic growth.
However, earlier today, Finance Minister Muhammad Aurangzeb clarified that the PDL in the most recent fuel price review remains the same because the higher tax on petroleum products will not go into effect immediately.
