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Pakistan and International Monetary Fund (IMF) have reached an settlement over Letter of Intent (LOI).

According to sources familiar with the development, Pakistan has guaranteed the global lender that government will gradually amplify levy on petroleum products to Rs50.

Pakistan assures IMF of gradually increasing petroleum levy to Rs50

Sources further stated that the federal government will impose a levy of Rs10 on petrol and Rs5 on diesel from September 1.

They introduced that the government will regularly extend the petroleum levy and take it up to Rs50 by 2023.

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