Lahore: There is a fear of an increase in the prices of petroleum products after the IMF directed to impose 18 percent tax on petroleum products.
According to OMC sources, the issue of tax on petroleum products has become serious. In the past, the Ministry of Petroleum and Finance had recommended imposing a two percent sales tax, but the IMF has asked for an 18 percent tax instead of 2 on petrol, diesel, light diesel and other petroleum products.
OMC sources say that imposing 18 percent sales tax on petroleum products instead of 2 will increase the prices of petroleum products.
The Ministry of Petroleum will give a detailed briefing to Prime Minister Shehbaz Sharif in this regard.
It should be noted that the IMF has clearly stated in this regard that the sales tax will be 18 percent.
