Pakistan assures IMF of gradually increasing petroleum levy to Rs50

ISLAMABAD (INN) – Pakistan and International Monetary Fund (IMF) have reached an agreement over Letter of Intent (LOI).

According to sources familiar with the development, Pakistan has assured the international lender that government will gradually increase levy on petroleum products to Rs50.

Sources further said that the federal government will impose a levy of Rs10 on petrol and Rs5 on diesel from September 1.

They added that the government will gradually increase the petroleum levy and take it up to Rs50 by 2023.

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