Govt cuts GST on petroleum products for May
National treasury's losses will amount to Rs 9 billion
LAHORE (Dunya News) – Implementing on Prime Minister (PM) Nawaz Sharif’s announcement, the government has cut General Sales Tax (GST) on petroleum products.
The Prime Minister had announced during his address yesterday in Mansehra that petroleum products’ prices would be maintained for the coming month.
Read more: PM Nawaz slashes power tariff, maintains petroleum prices for May
National treasury’s losses will amount to Rs 9 billion for providing relief to the people.
According to the Ministry of Petroleum and Natural Resources, the GST on petrol is cut from Rs 14.48 to Rs 12.89 per litre to keep the people from affects of increasing crude price in the international market.
GST on high octane is fixed at Rs 13.90 from the previous Rs 18.57 per litre, that on light diesel at Rs 4.72 from Rs 9.63 per litre while tax on high speed diesel has been maintained at Rs 29.57 per litre.
General Sales Tax on kerosene oil is also cut to Rs 4.76 from Rs 10.40 per litre and that on high octane oil to Rs 13.90 from 18.57 per litre.
