The court disposed off the suo motu notice on sales tax on electricity petroleum products.
Islamabad (Pakistan Point News – 2nd January, 2019) The Supreme Court has directed the National Accountability Bureau (NAB) to conclude investigation into the sales tax imposed on petroleum products.
A three member Supreme Court bench headed by Chief Justice Mian Saqib Nisar held the hearing of the case.
During the hearing, the NAB presented a report regarding the sales tax imposed on petroleum products.
The counsel for Pakistan Steel Oil also appeared before the court and said that the inquiry against former prime minister Shahid Khaqan Abbasi and other accused has been completed.
The NAB will approve converting the inquiry into investigation.
The Supreme Court then ordered the NAB to conclude the investigation.
The court disposed off the suo motu notice on sales tax on electricity petroleum products.
The Federal government has increased the sales tax imposed on petroleum products.
According to details, the government has taken the step to cope up with the current account deficit. The government increased the sales tax to increase its revenue.
With the decision, 17 per cent sales tax will be collected on petrol, diesel, light diesel and kerosene oil.
The government increased the sales tax on petrol by 9 per cent following which the price of petrol will but cut by Rs 4.86 contrary to Rs 9 announced yesterday.
Similarly, the sales tax on diesel has been increased by 4 per cent and on light diesel by 16 per cent. The sales tax on Kerosene oil has been increased by 17 per cent.
The government announced Monday cut in price of petrol for the month of January 2019 by Rs 4.86 per litre while that of High Speed Diesel by Rs 4.26.
The price of Kerosene oil has also been reduced by Rs 0.52 and that of Light Diesel Oil (LDO) by Rs 2.16 per litre, a finance ministry statement said.
