Govt to place tax worth Rs 2 billion on LPG sector
Government has decided to regulate the LPG sector and place tax worth 2 billion on it
KARACHI (Dunya News) – Due to increase in prices of liquefied petroleum gas (LPG) and to regulate its prices in the future, Ministry of Petroleum place a tax worth Rs. 2 billion on the LPG sector, reported Dunya News.
Earlier on Tuesday, Ministry of Petroleum had called a meeting of LPG marketing companies, LPG producers and distributor association. During the meeting it was decided to regulate the LPG sector and to place a tax of worth Rs. 2 billion on it.
LPG distributor association chairman Irfan Khokhar told Dunya News that local LPG marketing companies are making Rs. 25/kg of gas. “If government gives subsidy to the sector, LPG prices can fall to Rs. 80 per kg," he said.
On the other hand, distributors association has also asked the government that local producers should also be taxed by 5.5%. He said that LPG’s yearly production is 6,50,000 tonnes while its eport is 5,50,000 tonnes.
