Govt likely to increase petroleum prices by up to Rs15 per litre

Petrol price likely to increase by Rs9 before Eid-ul-Fitr

ISLAMABAD: International Monetary Fund (IMF) is reportedly pressing the federal government to hike prices of the petroleum products by up to Rs15 per litre.
According to media reports, the prices will be gradually hiked within span of three months.
Reports further added that the delegation of IMF had expressed dissatisfaction over performance of the Federal Cabinet and had suggested reforms aimed at widening the tax net.
On the other hand, Federal Board of Revenue (FBR) had only collected Rs1000 billion in terms of tax in the first four months of fiscal year 2018-19, a deficit of over Rs70 bln.
Prime Minister (PM) Imran Khan is also discontent with the performance of FBR and has directed officials to take measures to meet the tax revenue target of Rs4400 bln.

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