Islamabad, Pakistan – Web Desk: Pakistan’s Petroleum Minister Ali Pervaiz Malik has said that the government plans to increase the petroleum levy in line with targets set under an agreement with the International Monetary Fund (IMF), raising concerns over fuel price pressure on consumers.
Speaking during a Senate Standing Committee on Petroleum chaired by Senator Umar Farooq, the minister said the IMF-linked budget framework had initially set a petroleum levy of Rs80 per litre on petrol.
However, he added that evolving regional conditions, including tensions in the Middle East, had changed the situation, prompting fiscal adjustments.
According to the minister, the IMF target eventually requires the petroleum levy on petrol and diesel to reach up to Rs160 per litre.
Ali Pervaiz Malik stated that the increase in fuel prices is primarily driven by the levy structure agreed with the IMF as part of ongoing economic reforms and bailout requirements.
He also confirmed that LNG supply from Qatar has resumed, with shipments expected to arrive in Pakistan shortly. He credited the prime minister and senior defence leadership for their role in ensuring the supply arrangement.
The minister further said that international stakeholders, including officials from Qatar, Iran, and the United States, were involved in efforts to facilitate LNG shipments.
He added that once the current economic pressures ease, the government plans to move towards deregulation of petroleum product pricing in the country.
