Petroleum levy will have to be increased by Rs4 per litre each month: Shaukat Tarin

ISLAMABAD (92 News) – Finance Minister Shaukat Tarin has said that the petroleum levy will have to be increased by Rs4 per litre each month.

Addressing a press conference along with Federal Minister for Energy Hammad Azhar on Monday, he said that the tax net will have to be increased along with the business environment.

The minister said that the matters with the International Monetary Fund (IMF) had been resolved and Pakistan would get US$1 billion. "The IMF has asked to continue the tax reforms. We have accepted it, which will increase the difficulties of the weak segment of the society," he maintained.

He said that the international financial institutions have lauded the economic progress of Pakistan. "We will have to improve the performance of the government offices," he added.

Shaukat Tarin said that electricity would have to be further increased in the coming few months. "We will gave to legislate for the autonomy of the State Bank of Pakistan," he added.

Speaking on the occasion, Federal Minister for Energy Hammad Azhar said that the government would have to increase the tariffs after a few months. "Due to the Covid-19 pandemic, conditions are very tough. The prices of daily-use items are skyrocketing," he added.

He hoped that the economic situation would improve after getting the IMF programme.