The Federal Board of Revenue (FBR) on Monday revised and slashed the sales tax rates on high-speed diesel.
According to an SRO issued by the board, sales tax on high-speed diesel has been slashed from 17 percent to 11.64 percent.
Meanwhile, sales tax on petrol has been kept unchanged at 10.54 percent.
The FBR further notified that sales tax on kerosene and light-diesel will also remain unchanged at 6.70% and 0.20%, respectively.
Last week, the government raised the price of petrol by Rs5 a liter “owing to the fluctuations in petroleum prices in the international market and exchange rate variation”.
Petrol, with an increase of Rs5, is now available at Rs123.30 per liter, whereas high speed diesel, with an increase of Rs5.01, is now available at Rs120.04 per liter.
In addition, the cost of kerosene is Rs5.46 more and is thus priced at Rs96.26 per liter, while light diesel oil became Rs5.92 dearer to cost Rs90.69 per liter.