ISLAMABAD: The Federal Board of Revenue (FBR) Monday reduced sales tax on high-speed diesel from 17% to 11.64%.
Almost a week after the government had increased the price of petrol by Rs5 per litre, the FBR revised the sales tax rates on petroleum products today.
According to the statutory regulatory order (SRO) issued by the FBR, sales tax on petrol has been kept unchanged at 10.54%.
The FBR further notified that sales tax on kerosene and light-diesel will also remain unchanged at 6.70% and 0.20%, respectively.
Last week, the government had jacked up the price of petrol by Rs5 "owing to the fluctuations in petroleum prices in the international market and exchange rate variation".
Petrol, with an increase of Rs5, is now available at Rs123.30 per litre, whereas high speed diesel, with an increase of Rs5.01, is now available at Rs120.04 per litre.
In addition, the cost of kerosene is increased by Rs5.46 and is thus priced at Rs96.26 per litre, while light diesel oil became Rs5.92 dearer to cost Rs90.69 per litre.
Minister says virtual negotiations with IMF underway as certain points required in-person discussions
Fund, Pakistani authorities agree on need to continue responsible fiscal and monetary policies
Ogra decides to maintain fuel prices in line with international market, says Finance Division
Analysts say falling bank lending rates, rupee stability contribute to ongoing rally
KSE-100 index soars by 865 points, touching a record high of 94,225 points in intraday trade
System will be accessible directly from taxpayers' bank accounts via internet banking, ATMs, says FBR
