Pakistan Oil Crisis: The price of petrol may increase by Rs 32 in Pakistan, people will yearn for every drop, is there any preparation to walk on a donkey? – pakistan financial crisis petrol price may hike 32 pkr after 16 february due to dollar exchange rate
[ad_1]
Local media reported on Tuesday. Oil industry sources said the recent hike in petrol price was based on international price of petrol i.e. calculated on Free on Board (FOB) basis. According to The News report, the Government of Pakistan had increased fuel prices by a whopping PKR 35 per liter in its review last fortnight. Currently, the government is charging PKR 50 per liter Petroleum Levy (PL) while the General Sales Tax (GST) is yet to be levied.
loss to domestic companies
Sources said that the price of petrol may increase further, provided the foreign exchange rate is adjusted in the next review. He further said that the exchange rate was high, which would deprive the local consumers of any benefit or reduction in the prices of petroleum products. Petrol prices have come down in the international market, but PKR’s sharp fall against the dollar has eroded profits and hurt domestic consumers.
Pakistan can get loan
Kerosene oil price is expected to increase by 14.8 per cent or Rs 28.5 to Rs 217.88 per litre. Meanwhile, Pakistan is expecting a bailout package from the IMF. Pakistan is continuously accepting its conditions for the loan. Pakistan has implemented new taxes on Tuesday to collect 170 billion rupees. If Pakistan is successful in persuading the IMF by accepting these conditions, then it can get a loan of $ 1.1 billion.
(With agency input.)
[ad_2]
Source link
