As stated in the signed Letter of Intent between the IMF and Pakistan (LoI). Recently, the government of Pakistan signed the LoI it got from the Fund and returned it.
According to sources cited by Propakistani, the IMF has been promised a gradual rise in the petroleum charge to Rs. 50 per litre on petroleum goods by January 2023.
On September 1st, the tax on gasoline will go up by Rs. 10 per litre and the tax on diesel will go up by Rs. 5 per litre. In September, the overall tax on gasoline will rise to Rs. 30 per litre, while the tax on diesel would drop to Rs.
Additionally, in the coming months, the petroleum duty on petroleum goods would rise by Rs. 5 per litre. By January 2023, the tax will cost you 50 rupees a litre.
There is now a petroleum charge of Rs. 10 per litre on fuel and kerosene, and Rs. 20 per litre on gasoline. For the current fiscal year, Rs. 800 billion is planned to be collected in petroleum levy.
