Amid rifts within the PML-N over the recent increase in the price of petrol, Finance Minister Miftah Ismail on Tuesday announced that the petroleum levy would be further jacked up from next month. The price of petrol was raised to Rs233.91 from Rs227.19 per litre. After initial hesitation, the PML-N led coalition has been increasing petroleum prices since May 15 under the IMF deal. Miftah said that the country paid $8.5 per barrel premium on diesel and $17.5 per barrel on petrol. The finance minister maintained that tackling inflation was next on the government’s agenda.
Source: The Express Tribune August 17, 2022 05:10 UTC