FBR notifies sales tax to be charged on petroleum products

ISLAMABAD: Federal Board of Revenue (FBR) has notified sales tax to be charged on petroleum products in the country with 10.54 percent tax to be charged on petrol, ARY NEWS reported.

According to the notification, the percentage of sales tax to be charged on petroleum products included 10.54 percent on petrol, 17 percent on high-speed diesel, 6.70 percent on Kerosene oil, and 0.2 percent on light diesel.

It emerged that no changes have been made on the sales tax to be charged on fuel products in the fresh FBR notification and previous charges were maintained.

Similarly, the federal government on August 15 announced that the prices of petrol and diesel will remain unchanged for the next 15 days of the ongoing month.

According to the Finance Division, the price of petrol will remain unchanged at Rs119.80 per litre like last month, while that of diesel will also remain unchanged at Rs116.53 per litre.

However, the prices of kerosene oil and light diesel, however, have been increased by Rs0.81 per litre and Rs1.10 per litre, respectively.

The new prices, according to the finance ministry, will come into effect from Monday, August 16, 2021.

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The Oil and Gas Regulatory Authority (OGRA) had earlier proposed an increase in petrol prices from August 16. According to sources, the regulator had recommended an increase in petrol price by 50 paisas per litre.

The authority has suggested an increase of Rs2.50 per litre in the price of high-speed diesel, Rs1 in the price of kerosene oil and Rs1 in light diesel.