Budget FY 2018-19: Govt recommends 200% increase in petroleum levy

KARACHI: The administration has recommended an expansion of about 200% in oil impose in the new spending plan, for monetary year 2018-19.

As per specialists, the expansion is dreaded to cause a fast rise in inflation.

Under the Finance Bill 2018, impose on diesel, oil, unrefined petroleum and high-octane fuel would be expanded from Rs10 per liter to Rs30. A similar increment would be forced on the impose of light speed diesel and fuel, while demand on nearby melted oil gas could go up by 328%.

A day sooner, sources disclosed to News that Oil and Gas Regulatory Authority (OGRA) has prescribed a climb in costs of oil based goods for May. In a rundown sent to the Ministry of Petroleum, OGRA suggested Rs3.22 per liter increment in the cost of oil.