FBR further reduces sales tax on petrol

According to a notification issued by the FBR, the sales tax on petrol has been reduced from 16.4 per cent to 10.77 per cent.

Per the notification, the sales tax rate of 17% on high-speed diesel has been maintained.

According to GNN, the tax imposed on kerosene oil has been maintained at 6.70% and light diesel at 0.20%.

Earlier on July 15, dropping another POL bomb on the masses of Pakistan, the federal government has approved an Rs5.40 price hike in petrol price and Rs254 in High-Speed Diesel (HSD).

However, the Oil and Gas Regulatory Authority (OGRA) had recommended an Rs11.40 increase in petrol price. 

Special Assistant to Prime Minister on Political Communication Shahbaz Gill made this announcement in a tweet on Thursday.

The price of diesel has been upped by Rs2.54 per litre, diesel Rs1.93 per litre, and Light Diesel by Rs1.27, the tweet further said.

Gill said the government would bear the extra burden as Prime Minister Imran Khan approved Rs5.40 per litre petrol price against the OGRA's recommendation. He claimed that the citizens are being provided 'big relief'.

The latest increase in POL prices has been again linked with the international prices.

The government has increased the prices of petroleum products second time in the last 15 days as the government had previously increased the prices of all petroleum products by up to 4.7 per cent.