World News | IMF Has Asked Pakistan to Further Hike Levy on Petroleum Products, Says Imran Khan's Adviser

Islamabad [Pakistan], November 7 (ANI): Pakistan government is likely to increase the levy on petroleum products in the near future after it recently increased petrol prices amid continued protests by the Opposition, reported local media.

"The International Monetary Fund [IMF] has also asked to increase the petroleum development levy [PDL] but it will depend on the global prices of petroleum products," The News International quoted Pakistan's Adviser to the Prime Minister on Finance Shaukat Tarin as saying.

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Tarin hinted at a possible increase in the levy on oil products.

He stated that if the global price of oil goes down, "it will be easy for the government to increase the PDL".

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Defending the recent increase in the prices of petroleum products, Tarin said that the hike came as these products' prices are directly linked to the international market.

The finance adviser also ruled out deadlock in talks with IMF.

Stating that there is a single irritant regarding the autonomy of the State Bank of Pakistan (SBP), he said that it is being negotiated and hopefully be resolved in the coming days. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)