The govt raised Rs790b from taxes on petroleum products last fiscal year

June 22, 2018

The government raised at least Rs790 billion in taxes through the purchase of petroleum products during the 2017-18 fiscal year.

This revenue was generated, in part, through the Rs31.9 that consumers pay for every litre of petrol and the Rs45 they pay for every litre of diesel. A litre of petrol costs Rs91 and a litre of diesel costs Rs105.

Each consumer pays almost 30% in tax when purchasing petrol or diesel.

Chief Justice Mian Saqib Nisar has expressed displeasure over the hike in the price of petroleum products.

While hearing the case pertaining to taxes on petroleum products at the Supreme Court’s Karachi Registry on Friday, the chief justice remarked that prices were raised every couple of months, causing huge problems for the public.

The CJ said he wants to know how oil prices are decided in the country within 10 days.

 
 

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