Pakistan Hikes Petrol Levy to 300 Rupees Amidst Middle East Crisis

• Pakistan increases Petroleum Development Levy (PDL) on high-octane petrol from 100 to 300 rupees per liter.
• The hike targets wealthy car owners, aiming to generate 9 billion rupees monthly for the treasury.
• Prime Minister Shehbaz Sharif states the increase will not affect regular petrol prices for the common public.
• A PIDE report warns of severe economic upheaval for Pakistan if the Strait of Hormuz is disrupted.
• Inflation could exceed 12% and fuel prices are expected to rise further due to global oil prices and war-risk premiums.