The Pakistan government on Sunday ordered an increase in the levy on high-octane fuel used by luxury vehicles to Rs 300 per litre, hiking it by Rs 200 per litre, as fuel prices go up amid the ongoing Iran War. In a handout, the Prime Minister’s Office (PMO), said that Pakistan’s Prime Minister Shehbaz Sharif chaired a meeting on decisions regarding high-octane fuel used in “luxury vehicles”. “The prime minister took notice that the levy on high-octane fuel used in the most expensive vehicles should be increased,” read the PMO statement.
Therefore, PM Shehbaz decided that the levy, which was Rs 100 per litre, should be increased by Rs 200 per litre.
“A levy of Rs 300 per litre will now be applicable on high-octane fuel used in the most expensive vehicles,” the statement said.
“This decision will save the government Rs 9 billion per month and as per the prime minister’s instructions, this will be used to provide the people with relief,” it added.
The prices of fuel used in ordinary vehicles used by the lower and middle classes have not been increased, only the price of high-octane fuel used in luxury vehicles has been increased, the PMO said.
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The prices of petrol and diesel have not been increased following a 20% hike earlier this month, prompted by global oil supply disruptions triggered by the war.
On March 6, the government raised petrol and diesel prices by Rs 55 per litre each as global oil prices surged amid the US-Israel conflict with Iran.
The PMO said that PM Shehbaz Sharif had taken notice of high-octane prices and directed the ministry concerned to prepare an action plan in this regard.
Two weeks ago, the Shehbaz Sharif government had announced austerity measures to cope with the fuel crisis triggered by the US-Israel war on Iran after hiking petroleum products’ prices earlier this month.
The measures included a 50 per cent cut in fuel allowance for official vehicles and a four-day work week. It was also decided that 50 per cent of staff in the public sector would work from home, while exempting those providing essential services.
On Thursday, the government had appealed to the public to adopt fuel-conservation measures to “avert the risk of petroleum products’ supply getting affected in the coming days”.
Prime Minister Shehbaz Sharif said on Friday that he had rejected recommendations for further increasing the prices of petroleum products. Sharif said he had instructed concerned ministries to devise a mechanism to ensure that the “relief” was restricted to only the deserving and needy.
