Petrol Price

ISLAMABAD: The interim government plans to provide slight relief to the inflation-hit public by likely reducing petrol prices for the Oct 1-15 period.

Sources suggest that in the upcoming review, petrol prices could decrease by Rs15-19 per litre, and High-Speed Diesel (HSD) could drop by Rs9-12 per litre if the government maintains the petroleum levy at Rs50 per litre.

However, if the finance ministry increases the levy by Rs5 per litre, diesel prices could decrease by Rs5-8 per litre. This anticipated price drop would mark the first decrease in two months.

The last reduction in the prices of these essential fuels occurred in mid-July, with petrol being reduced by Rs9 per litre to Rs253 and diesel by Rs7 per litre to Rs253.50 by the Pakistan government.

On Sept 15, the Pakistan government significantly increased petrol and diesel prices after promising relief to the masses.

A substantial hike of Rs26.2 per litre raised the petrol price to Rs331.38 per litre, while diesel saw an increase of Rs17.34. Within a month, the caretaker government raised petrol prices by Rs58 per litre and diesel by Rs56 per litre.

IMF Discussions For Second Loan Tranche Expected In Late October

Meanwhile, Sources have reported that discussions regarding the second tranche of the International Monetary Fund (IMF) loan are likely to take place in the last week of October.

During an online meeting between the Federal Board of Revenue and the IMF, officials conveyed that Pakistan does not intend to introduce new taxes.

The FBR expressed confidence in achieving the tax recovery target without the need for new taxes.