Thursday, October 28, 2021

Govt enhances Petroleum Levy on petrol products: sources


ISLAMABAD: The federal government has piled up taxes on various petroleum products in a new development to meet its revenue shortfall, ARY News reported on Saturday.

The government has decided to enhance the petroleum levy on oil products to the extent of 30 rupees per litre, sources in the know of the development said.

According to sources, the government has enhanced the sales tax rate on petrol to 17 percent.

The petroleum levy on high speed diesel (HSD) has been fixed at Rs 30 per litre, while the sales tax on HSC will be 17 percent to generate additional revenues, according to the sources.

Likewise, the government has raised the rate of levy on kerosene by six rupees per litre, while the sales tax on kerosene will be 17 percent.

The petroleum levy on light diesel oil was increased from Rs3 to Rs4.94 per litre, showing an increase of 65pc or Rs1.94 per litre.

The government has increased petrol price by Rs25.58 after decreasing it a short while back resulting in a countrywide scarcity.

According to a notification issued by the government on the matter, new price for a litre of petrol is now Rs100.10.

High Speed Diesel’s new price is now Rs101.46 per litre with an increase of Rs21.31.

Light diesel oil’s new price is Rs55.98 per litre registering an increase of Rs17.84 whereas kerosene oil’s new price would now be Rs59.06 per litre with an increase of Rs23.50.

It is pertinent to mention here that petroleum prices in the country went through significant decrease earlier in the month which subsequently made Pakistan one of the cheapest sellers in the region but that status couldn’t even be upheld for a month.

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