ISLAMABAD: The finance division stated that the government had also levied 0% sales tax and reduced the levy to provide “relief” to the consumers against budgeted.
The finance division said that the “relief” had led the government to bear a revenue loss of around Rs 35 billion fortnightly.
“In the fortnightly review of Petroleum Products’ prices, the prime minister has considered the recommendation to increase the prices of petroleum products in line with a change in the international oil prices. Despite the increase in the prices of petroleum products, petroleum levy, and sales tax have been kept to the minimum,” said the notification.
The decision is also in line with what Finance Minister Shaukat Tarin had indicated a few days back.
Finance Minister Shaukat Tarin had indicated an increase in petroleum prices in-country, adding that the government cannot lower petroleum product prices artificially.
The price of petrol in different countries was converted to PKR to understand the situation better.
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