The government has announced a reduction in the prices of petroleum products for the next 15 days and the price of petrol has been reduced by Rs. 5 per liter.
However, industry sources said that the price of petrol could have been reduced by up to Rs 11 per liter while the price of diesel could have been reduced by Rs 9 per liter.
According to sources, the government has increased sales tax, dealer margins and profits of oil marketing companies due to which the people could not get the full benefit of reduction in prices of petroleum products.
According to Geo News correspondent Saif-ur-Rehman, the federal government has increased General Sales Tax (GST) on petrol from 1.63% to 4.77% and GST on diesel from 7.4% to 9%. Given
The profit of dealers and oil marketing companies on petrol has been increased by Rs 70 paise per liter while the profit of dealers and oil marketing companies on diesel has been increased by Rs 54 paise per liter.