Federal Minister for Petroleum Ali Pervaiz Malik said on Saturday that continuous engagement with the International Monetary Fund is under way, and if relief is secured, there will be no need to increase the levy.
Expressing his thoughts on Samaa TV programme 'Mere Sawal with Absar Alam', he said that in the absence of any concession, a decision will have to be taken by next Friday to impose a levy of Rs50 to Rs55 on petrol or diesel.
Ali Pervaiz Malik said that while the public faced hardship, there was no disruption in oil availability. He added that, in coordination with the provinces, Rs100 billion was allocated to provide relief to the people.
He said that the levy on diesel stands at zero and had to be shifted to petrol, adding that Pakistan has the cheapest diesel in the world. He maintained that the economy cannot be sustained without the support of the IMF.
He said that when petrol prices were reduced by Rs80, critics claimed it was due to their influence. He reiterated that talks with the IMF are ongoing, and if relief is obtained, the levy will not be increased. Otherwise, a decision on imposing Rs50 to Rs55 levy on petrol or diesel will have to be made by next Friday.
He added that there is an agreement with the IMF which must be honoured, warning that failure to do so would carry serious consequences.
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