Share:ISLAMABAD - Instead of adjusting GST and Petroleum Levy for maintaining petroleum prices for the first fortnightly of November at the level of October, the government will provide subsidy on the POL products and will compensate OMCs and relevant local refineries in case of any price differential. It was not possible for the government to further slash taxes and levies on petroleum products therefore adopted the new way to keep the prices low, said the source. The IFEM has been increased to Rs 4.08 per litre from Rs 3.90 per litre, while there is no change in Distribution Margin, Dealer Margin, Petroleum Levy and GST and will remain at Rs 2.97 per litre, Rs 3.91 per litre, Rs 5.62 per litre and Rs 8.82 per litre respectively. The IFEM on HSD has decreased to Rs 1.11 per litre for the first biweekly of November from Rs 1.16 per litre in previous biweekly. There is no change in Distribution Margin, Dealer Margin, Petroleum Levy and GST and will remain at Rs 2.97 per litre, Rs 3.30 per litre, Rs 5.14 per litre and 12.58 per litre.

Source: The Nation November 02, 2021 06:09 UTC