Pakistan Petrol: Dough wet in pauper… Petrol will be more expensive in Pakistan, will the speed of the country stop? – pakistan petrol price today petrol price in pakistan may get more high amid worse economic crisis
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Petroleum products prices are likely to increase by PKR 10-14 per liter in Pakistan for the next fortnight. This information has been given in the media report on Saturday. Pakistani newspaper The News reported that according to industry sources, the government may increase the prices of petroleum products due to rising oil prices in global markets. This increase could go up to PKR 14 per liter if the government also adjusts for exchange rate losses, unlike the previous review.
The effect of global hike will be seen on petrol
As per the functioning of the country’s oil sector, the ex-depot price of petrol is set at PKR 14.77 per liter for the next review of prices with exchange rate loss adjustment. Even though the government refrains from adjusting the exchange deficit, it will face a hike in petrol price due to increase in global oil prices. The expected increase in petrol price is based on the current rate of taxes.
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The government is levying a PKR 50 per liter levy on petrol with zero general sales tax. In the current situation, the Government of Pakistan has no option but to increase the price of petrol as the country is already facing a severe financial crisis. At the same time, the government is making desperate efforts to revive the IMF program to augment foreign exchange reserves but relief is far away, The News reported.
(with agency inputs)
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