By The federal government, led by PM Shehbaz Sharif, will announce a significant petrol price hike effective July 1, following the Budget 2024-25. This will be the first price change since the budget was presented on June 12.
The Finance Bill 2024 proposes an increase in the maximum petroleum levy, raising it by Rs20 to Rs80 per litre. Currently, petrol costs Rs258.16 per litre.
Read more: How many Pakistanis celebrate Eid holidays in the northern areas?
The government views the petroleum levy as a vital revenue source to strengthen its finances and secure another bailout package from the International Monetary Fund (IMF).
