After the recent increment in fuel prices, the Pakistan Industrial and Traders Associations Front (PIAF) showed their utter disappointment and anger at the government. According to the association, the three major petroleum products; petrol, diesel, and liquefied petroleum gas, will burden billions of rupees on consumers.
It is said that PIAF Chairman Mian Nauman Kabir and Vice-Chairman Javed Siddiqi felt unfortunate that besides the 17% GST, the government has more than doubled the rate of petroleum levy on HSD and petrol in recent months.
It is also added that the government is charging a standard rate of 17% GST across the board on all products to generate additional revenue. At the same time, the petroleum levy is slightly lower than the maximum permitted limit.
As the government has changed petroleum-products prices, the authorities have also increased the levy on petrol by about 80 paisa per litre for the rest of Jan 2021.
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