ISLAMABAD (Dunya News) - Prime Minister Shehbaz Sharif has approved a significant increase in the levy on high-octane fuel used in luxury vehicles, raising it from Rs100 per litre to Rs300 per litre, according to an official statement.
Chairing a meeting via video link, the prime minister directed that the levy on high-octane fuel be increased so that the wealthy segment contributes more to the economy. He said the move would reduce the burden on national resources and generate additional revenue, which will be used to provide relief to the public.
Officials stated that the decision is expected to save the government approximately Rs9 billion per month. The prime minister emphasized that the savings will be passed on to the public in the form of relief measures.
It was also clarified during the meeting that there will be no increase in the prices of fuel used in ordinary vehicles, and the decision will not affect public transport fares or airline ticket prices.
The meeting was attended by Federal Minister for Law Azam Nazeer Tarar, Finance Minister Muhammad Aurangzeb, Information Minister Attaullah Tarar, Petroleum Minister Ali Pervaiz Malik, and other senior officials.
Earlier, the prime minister had taken notice of the high-octane fuel issue and directed the concerned ministry to formulate a policy framework.
Govt bears Rs69bn to keep fuel prices in check: Aurangzeb
Earlier, Finance Minister Aurangzeb said that government had absorbed a burden of Rs 69 billion on petroleum product prices to provide relief to the public.
Addressing a press conference, the finance minister stated that daily meetings are being held to ensure the uninterrupted supply of petroleum products, including petrol, diesel, and liquefied petroleum gas (LPG), across the country. He said the government is trying to minimize the financial burden on citizens, adding that national resources are limited.