Islamabad: The Federal government has increased 10 percent sales tax on petroleum products for not passing on the benefit of fall in oil prices at international market to the people. The tax on high speed diesel has been increased to 45 percent.
FBR will earn revenue of Rs 10 billion. According to details, Ogra has proposed to reduce prices of petroleum products by Rs 7 per liter but government slashed prices by only Rs 3 per liter.
Despite reduction in prices of crude oil in international market, the prices of petroleum products in Pakistan could not witness remarkable cut as compared to global market. Consumers will have to pay Rs. 23 tax per liter on petrol and Rs 33 per liter on diesel.