Ok I might agree with you if you tell me how much Pakistan pays to buy a litre of oil?….then we can figure out how much levy IK is putting on it.
ISLAMABAD: Hinting at a significant increase in levy on petroleum products next fiscal, Finance Minister Shaukat Tarin on Saturday said an understanding had been reached with Saudi Arabia for revival of its oil facility on deferred payments
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We will have to increase petroleum levy, take it up to Rs20 per litre,” he said while speaking at his post-budget news conference but hastened to add that the government would wait because of expectations about lifting of US sanctions against Iran and resultant drop in international prices that would be retained.
At present, there is Rs4 to Rs5 per litre levy on petrol and diesel.
The minister said the government might have to increase levy on petroleum products to achieve its petroleum levy target of Rs610 billion next year but hoped this would not be inflationary in view of expected lifting of US sanctions against Iran and its oil production and resultant lower international oil prices. In that case, the government will have the chance to mop up the levy by retaining the impact of decline in international oil pric
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The IMF has been asking the government to generate Rs600 billion through petroleum,
which is likely to result in a Rs30 per litre levy on petrol, diesel, and other byproducts.
The IMF, with its regular conditions, tries to convince beneficiaries of the need to impose levies on essential products such as petroleum. But such impositions are not always in the best interests...
www.thenews.com.pk
Even 5.00 RP/Liters is way too much considering there are already other duties and taxes on a liter of gas which consumer pays right now. This number will continue to go up ...