ECC approves raising petroleum levy to Rs50 under IMF conditions.

ISLAMABAD -- The Economic Coordination Committee (ECC) of the federal cabinet has approved increasing the levy on petroleum products as required by the IMF deal, media reported.

According to details, the petrouelm levy on High-Octane has been increased to Rs50. The levy on High-octane petroleum products will be applied from Nov 15 to Nov 30.

Currently, the levy on high-octane petroleum products is Rs30. The increase has been made as per the conditions of the International Monetary Fund (IMF).

However, on November 31, the federal government decided to keep the prices of petroleum products unchanged for the next fortnight besides extending...