ISLAMABAD – The prices of petroleum products are likely to change from tonight. Sources in the ministry of Petroleum say that there is a possibility of minor changes worth two to five rupees per liter in the prices of petroleum products from June 16.
According to industry sources, there is a possibility of a decrease in the price of petrol by about two rupees per liter from tonight, while the price of diesel is likely to increase by three rupees.
On June 9, Finance Minister Ishaq Dar presented the budget of 144 trillion 60 billion rupees for the fiscal year 2023-24 in the National Assembly, on which IMF has raised objection.
The Joint Secretary Budget of the Ministry of Finance told the Standing Committee that the IMF is not satisfied with the budget figures, so the Petroleum Development Levy target for the next fiscal year has been set at Rs 869 billion, which is Rs. 542 billion rupees the revised target for the current fiscal year.
The members of the committee opposed the amendment to give the government the power to increase or decrease the petroleum levy without approval from Parliament.
