Miftah- Press ***** 02 **ISLAMBAD**
Muhammad Irfan Published August 16, 2022 | 05:40 PM
..:The Minister for Finance said that the government will increase tax on petroleum products and not the price, for which OGRA has fixed the formula.
Miftah said yesterday's decision to increase the price of petroleum products was right, which is necessary for the economic self- reliance of the country.
He said that difficult economic decisions are being taken for economic self-reliance in the country.
The Minister said that if "we had increased the production of energy,the country would also need to increase exports by increasing industrial production.
He said the government has saved the country from bankruptcy, "we have staked our political capital." The Minister said that our next goal is to control inflation and added that petroleum tax has been reduced from Rs 42 billion to Rs 27 billion.
He said that the price of petrol in regional countries including India is Rs 302 per liter and similarly the price of petrol in Bangladesh is Rs 308 per litre.
Both countries India and Bangladesh have foreign reserves of $600 billion Dollars and $35 billion respectively.
Related Topics
Recent Stories
Journalists call for global action to end Gaza’s humanitarian crisis
CM for generating opportunities to bring direct int'l investment
Pakistan retains position in FTSE secondary emerging market
High Commissioner of Malaysia hosts Iftar dinner reception
NEPRA announces 2nd quarterly adjustment in power bills with Rs 1.68 cut per uni ..
Hoopo Inc. Collaborates with SAU to Install Solar-Powered RO Plant
04 killed in Spain as Storm Nelson looms
Russian military jet crashes into sea off Crimea: Governor
Rain-windstorm/thunderstorm likely at various parts of country
Implementation of Sindh Agriculture Workers Act-2019 demanded
Pandemic accord talks heading for extra time
Khawaja reiterates PM commitment to judiciary
More Stories From Business
-
Pakistan retains position in FTSE secondary emerging market
3 hours ago -
Pakistan retains position in FTSE secondary emerging market
3 hours ago -
China's competitive car market at heart of global EV revolution
3 hours ago -
China's Xiaomi enters car market with new electric vehicle
3 hours ago -
Pak-Türkiye strategize to boost bilateral trade to $5 billion
5 hours ago -
Chief Representative of CFFEX in Pakistan and PSX Director meet Finance Minister
5 hours ago
-
Banks to open on March 30, 31 to facilitate tax collection
6 hours ago -
Stock markets rise before Easter break
6 hours ago -
NCA approves revised first quarter GDP estimates for 2023-24
6 hours ago -
26% increase on tobacco tax can reduce PKR 300bn in health cost
7 hours ago -
Minister expresses anguish over alleged use of poor-quality material
8 hours ago -
Commerce Minister initiates push for E-commerce growth with in-house briefing
8 hours ago