Karachi October 2 2022: Not increasing Petroleum Development Levy (PDL) this month without IMF approval is reckless, but what PTI did with our economy was unforgivable says former finance Minister of ruling party Miftah Ismail.
Government reduced Petrol price by PKR 12.63 and Diesel by PKR 12.13 on 30th September for next fifteen days. Government has reduced the Petroleum Development Levy on Petrol by PKR 5 per liter to PKR 32.42 per liter while increased by PKR 5 per liter to PKR 12.58 per liter on Diesel. Government is also charging PKR 15 per liter on kerosene and PKR 10 per liter on Light Diesel Oil.
Government has committed with IMF through the Finance Minister’s approval on August 2, 2022 to implement monthly PDL increases of PKR 10/liter for petrol and PKR 5/liter for diesel on September 1, 2022, followed by increases of PKR 5/liter per month for both fuels until the PDL reaches PKR 50/liter in January 2023 (petrol) and April 2023.
