Petrol, diesel and other fuel categories are expected to get more expensive as the federal government has proposed a 5 percent sales tax on petroleum products in federal budget 2024-25, sources told ProPakistani.
Currently, the sales tax rate on petroleum products stands at zero, while the petroleum levy is Rs. 60 per liter on both MS and HSD. Sources warned that the petroleum levy could spike to at least Rs. 80 per liter in FY25.
The FY25 budget is expected to impose substantial taxes to help the government earn more revenue and potentially unlock a new bailout program from the International Monetary Fund.
For live updates on everything about the Federal Budget, visit this link.
Follow ProPakistani on Google News & scroll through your favourite content faster!
Support independent journalism
If you want to join us in our mission to share independent, global journalism to the world, we’d love to have you on our side. If you can, please support us on a monthly basis. It takes less than a minute to set up, and you can rest assured that you’re making a big impact every single month in support of open, independent journalism. Thank you.
