Prime Minister Shehbaz Sharif on Sunday approved an increase of Rs200 per litre levy on high-octane fuel used in luxury vehicles, a move expected to generate Rs9 billion in monthly savings for the government.
The development emerged in a meeting virtually chaired by the premier, who had taken notice of the Rs100 per litre levy on high-octane fuel, read a statement issued by the Prime Minister’s Office.
During the meeting, PM Shehbaz stressed raising the high-octane fuel levy and approved an increase of Rs200 per litre, said the statement.
With the fresh increase, the levy on the high-octane fuel has climbed to Rs300 per litre.
Finance Minister Muhammad Aurangzeb, Information Minister Attaullah Tarar, Petroleum Minister Ali Pervaiz Malik, and other senior government officials attended the meeting.
This is a developing story and is being updated with further details.
