Federal Govt. Notifies lowering sales tax on petroleum products

The Federal government has on Wednesday (today) announced to lower sales tax on petroleum products.

According to a notification issued today, the sales tax on Kerosene oil was lowered to 10.07% against the previously charged tax of 15.44%. The sales tax on light diesel was lowered to 3.67% from 7.56%.

However, the notification mentioned that the sales tax would be charged at 17% on petrol, and high-speed diesel, and there would be no changes in it.

Prime Minister Imran Khan on May 31 turned down a proposal by the Oil and Gas Regulatory Authority (OGRA) for a rise in prices of petroleum products for the next 15 days.

The current price of petrol stands at Rs108.76 per litre, whereas the per-litre prices of diesel, kerosene oil, and light diesel are Rs110.76, Rs80, and Rs77.65.86, respectively.

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Earlier, the Oil and Gas Regulatory Authority (OGRA) had increased the price of LPG.

According to the notification, the price of LPG has been increased by Rs 8.4 per kg.

According to the notification, LPG has increased the price of 11.8 kg domestic cylinder by Rs 94.89 paise, after which the new price of the domestic cylinder has gone up to Rs 1,667.29 paise. Whereas in May, the domestic price of LPG cylinder was Rs 1,572.40 paise. The price of the commercial cylinder is fixed at Rs 6,415.

The notification further said that the new LPG prices would be applicable for June 2021.

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