The GST on petrol has been increased from 2% to 12%.
Lahore (Pakistan Point News – 5th May, 2019) The Federal board of Revenue (FBR) has issued a notification for increasing General Sales Tax (GST) on petroleum products.
The notification has been issued after the approval of federal cabinet.
The GST on petrol has been increased from 2% to 12%. The GST on kerosene oil has been increased from 8% to 17% while that on diesel from 13% to 17%.
According to the notification, petrol now costs Rs108 per litre after an increase of Rs9 while the price of high speed diesel has been increased to Rs122.32, after an increase of Rs4.89 per litre.
The price of light-speed diesel has increased to Rs86.94 per litre while that of kerosene oil to Rs96.77 per litre.
The government on Friday approved the summary of Oil and Gas Regulatory Authority (OGRA) for an increase in petrol prices.
Imran Khan led Pakistan Tehreek-e-Insaf (PTI) government is being criticised for dropping this petrol bomb on the people.
The hike in prices of petroleum products has been challenged in the Lahore High Court (LHC).
The petition filed in the LHC against the increase in petrol prices stated that the prices have not increased in the international market.
The petition added that the hike in petrol prices violates Article 9, 14 and 15 of the constitution.
It further stated that the increase in petroleum prices will increase the inflation, adding that the decision to increase the prices should be nullified.
The federal government, petroleum ministry and others have been made a party in the petition.
