The fuel levy would rise by Rs20, as declared by the federal government. As a result, the tax on motor gasoline and high-speed diesel oil (HSDO) has increased from Rs60 per liter to Rs80 per liter in the current fiscal year.
Furthermore, the maximum charge for E-10 gasoline, Light Diesel Oil (LDO), and High Octane Blending Component (HOBC) has been raised to Rs75 per liter. The government wants to strengthen its financial condition, thus this step is intended to increase revenue.
The tax on Superior Kerosene Oil (SKO), which is currently Rs50 per litre, would not alter in spite of these hikes. This move seems to be an attempt to maintain constant prices for goods that are frequently utilized by rural and lower-class households.
The charge per metric ton for Liquefied Petroleum Gas (LPG) generated in Pakistan is Rs 30,000. This modification is a component of a larger plan to control the petroleum industry and guarantee consistent income streams from various fuel kinds.
The government’s strategy for modifying petroleum product levies as part of its fiscal policy is reflected in these modifications.
The government intends to address economic issues and better manage its budget by raising taxes on specific fuels, all the while keeping prices of necessities like LPG and SKO stable for regular family use. The public’s support and economic stability depend on this delicate balancing act.
