The government has decided to start increasing levy on petrol and diesel on a monthly basis from September, reported 24NewsHD TV channel on Wednesday.

According to the letter of intent sent by Pakistan to the International Monetary Fund (IMF), there will be a step by step increase in the levy until it reaches Rs50 per liter. 

The government has decided to do away with subsidy on petroleum and energy sector.  

Much to the chagrin of ordinary people, the federal government, a day before yesterday (Monday, August 15, 2022), had increased the price of petrol by Rs6.72 per liter following which it reached Rs233.91 per liter.

The price of high speed diesel was reduced by only 51 paisa per liter to reach Rs244.44 per liter. 

The price of kerosene (oil) was also reduced by Rs1.67 per liter to reach Rs199.40 per liter.

It is pertinent to mention here that the oil prices had come down in the global market by $4 on the same day.