The government announced that petrol and diesel prices will rise starting June 16 due to a sharp surge in global oil prices. This increase follows recent missile exchanges between Israel and Iran, which have unsettled oil markets worldwide. The ex-depot price of high-speed diesel (HSD) may increase by about Rs 5 per litre, affecting transport […]
petroleum development levy (PDL)
Pakistan government lifts cap on fuel levy, allows unlimited increases
The federal government of Pakistan has given itself the power to raise the petroleum levy without any limit. A recent presidential ordinance issued by President Asif Ali Zardari removed all restrictions on the levy amount. Previously, there was a cap on the petroleum development levy (PDL) set at Rs 70 per litre. With the abolishment […]