Prime Minister Muhammad Shehbaz Sharif has approved a significant increase in the levy on high-octane fuel used by luxury vehicles.
The decision was taken during a high-level meeting chaired by the Prime Minister via video link, where he reviewed matters related to fuel pricing and economic relief.
Under the new policy, the existing levy of one hundred rupees per litre on high-octane fuel will be increased by two hundred rupees, bringing the total levy to three hundred rupees per litre.
The increase in high-octane fuel prices will not impact public transport fares and air travel costs.
The decision is aimed at reducing the economic burden by shifting it towards the affluent class. Fuel prices for vehicles used by lower and middle-income groups will remain unchanged.
This decision is also expected to generate savings of approximately nine billion rupees per month.
The Prime Minister has directed that these savings be utilized to provide relief to the general public.
The meeting was attended by Minister for Law and Justice Azam Nazir Tarar, Finance Minister Muhammad Aurangzeb, Minister for Information and Broadcasting Attaullah Tarar, and Minister for Petroleum Ali Pervaiz Malik, along with other senior government officials.
