ISLAMABAD: The federal government is most likely to increase the petroleum levy (PL) on high-speed diesel (HSD) by Rs5 per litre to meet one of the conditions of the International Monetary Fund (IMF) with effect from March 16, 2023, in the fortnightly review of petroleum products.

Based on PL @Rs50 per litre and no general sales tax (GST), the price of petrol would likely be increased by Rs4 per litre from Rs267 to Rs271 per litre and the HSD would go up by Rs5 per litre, from Rs280 to Rs285 per litre.

Currently, the government is charging Rs50 per litre on petrol and Rs45 per litre on HSD and no GST is charged.

The Pakistan State Oil (PSO) is asked for exchange rate adjustment of Rs5 per litre on petrol and Rs11 on HSD with effect from March 16-31. The US dollar against Pakistan rupee went up by Rs15.97 in the last 15 days from Rs262.14 to Rs278.11.

The price of kerosene oil (KERO) may also be raised by Rs11 per litre from Rs187.73 to Rs199.47 and light diesel oil (LDO) by Rs2.28 per litre from Rs262.14 to Rs278.11 per litre.—WASIM IQBAL