What could be the latest petrol price in Pakistan for the second half of February 2023?
KARACHI – The costs of petroleum merchandise are estimated to go up after the subsequent fortnightly evaluate within the nation of practically 220 million which is dealing with a looming oil disaster as banks have refused to open and make sure Letters of Credit score (LCs) for the import of petroleum merchandise.
A report by a neighborhood media outlet quoting well-informed sources claimed that petrol costs might see a surge of round Rs20 per litre. It talked about free on board (FOB) foundation and different components that stemmed the rise in petrol costs.
As Oil Firms Advisory Council shared ordeal to the problems being confronted by oil firms, which had been discovering it troublesome to open LCs, the federal government has determined to lift the worth of the essential commodity which is already out there at Rs249 per litre.
Reviews recommend that the Pakistani authorities is charging Rs50 per litre petroleum levy (PL) whereas GST is but to be slapped on the lots who’re battling for meals.
Curiously, the Worldwide worth of petrol witnessed a lower nonetheless the sharp devaluation of the native foreign money has slammed the features.
Earlier in January, the federal government elevated petrol and diesel costs by a whopping 35 rupees per litre after the rupee was nosedived after worth caps had been eliminated.