The government has increased sales tax and levy on petroleum products
The levy on petrol has been increased by Rs 4 per liter while sales tax has been increased by 1.63%. Prices of petroleum products have remained unchanged.
The government has increased the sales tax and levy on petroleum products. The levy on petrol has been increased by Rs 4 per liter while the sales tax has been increased by 1.63%. The prices of petroleum products will remain at the current level. According to details, the government has increased the levy on petrol and diesel from December 1.
According to media reports, the levy on petrol and diesel has been increased by Rs 4 per liter, after which the petroleum levy on diesel became Rs 13.14 per liter while the levy on petrol became Rs 13.62. The government also increased the GST on petrol and diesel. GST on diesel has been increased from 7.2% to 7.37% while GST on petrol has been increased from zero to 1.63%.
Despite the increase in levies and GST, it has been decided to keep the prices of petroleum products at current levels. The Ministry of Finance has issued a statement regarding the revision in the prices of petroleum products from December 1. The Ministry of Finance has announced to keep the prices of petroleum products at the current level for the next 15 days. Under the decision, the price of petrol will remain at Rs 145.82 per liter, high speed diesel at Rs 142.62 per liter, light speed diesel at Rs 114.07 per liter and kerosene at Rs 116.53 per liter.
Earlier, it was reported that the prices of petroleum products could be reduced by up to Rs 8. According to private TV channel New TV, the Petroleum Division has received a working summary from OGRA to reduce oil prices. In the working summary, it was proposed to reduce the price of petrol by Rs. 8 per liter. Revealed. Last week, a spokesman for the finance ministry told Naveed that prices of petroleum products could fall in December.
Finance Ministry spokesman Muzammil Aslam said in a tweet released on Saturday that the price of crude oil in the global market has come down to 72 72.91 per barrel. The fall in global oil prices will definitely have an impact on imports and prices of petroleum products. Muzammil Aslam further said that Allah is kind to Pakistan, the effects of reduction in oil prices in the world market will be seen on December 15 in the prices of petroleum products.
While regarding the reduction in the prices of petroleum products, Federal Minister for Information Fawad Chaudhry said that thankfully the price of oil in the world market has come down, its effects in Pakistan will come after 2 months. It should be noted that the price of crude oil in the world market fell significantly by more than 10% last week. Last week saw the biggest daily decline in crude oil prices in a year and a half in the global market.