Govt mulls to take petroleum levy to Rs70-100 per litre: sources
In a bid to revive country’s derailing economy, the federal government Tuesday decided that the petroleum development levy (PDL) would remain around Rs70-100 per litre.
The “economic roadmap” was shared with the National Security Committee (NSC) after the body took “major decisions” to revive the economy and provide relief to the people.
According to the proposed plan, the targeted subsidy will be given only to the low-income section of the country and the petroleum levy would remain around Rs70-100 per litre and petrol, gas and electricity will be priced at cost and cost+ basis.
Meanwhile, sources confirmed that during the NSC meeting, it was decided to slap “flood levy” in the range of 1 to 3 percent through the promulgation of a presidential ordinance and firm up a proposal for unveiling the mini-budget.
The proposal is expected to be finalised within the ongoing week.
According to sources, local and foreign debt restructuring was also proposed as part of the economic recovery plan.
Sources said the meeting also raised the point of a 10-year comprehensive plan on Pakistan’s structured support from China, the UAE, KSA, Qatar, the EU and US.