Government increases sales tax on POL prices

Islamabad, Jan 1 (INP) – The Federal government of Pakistan has increased the sales tax imposed on petroleum products to cope up with the current account deficit.

As per details, the government increased the sales tax to increase its revenue and after this increased, 17 percent sales tax will be collected on petrol, diesel, light diesel and kerosene oil.

The government has announced to increase the sales tax on petrol by 9 per cent following which the price of petrol will be cut by Rs 4.86 contrary to Rs 9 announced late Monday.

The recent retails have announced that the sales tax on diesel has been increased by 4 per cent, on light diesel by 16 per cent while on Kerosene oil has been increased by 17 per cent.

The authorities announced cut in price of petrol for the month of January 2019 by Rs 4.86 per litre while that of High Speed Diesel (HSD) by Rs 4.26.

The price of Kerosene oil has also been reduced by Rs 0.52 and that of Light Diesel Oil (LDO) by Rs 2.16 per litre, a finance ministry statement said.

Inp/khan