PESHAWAR: Former President Islamabad chamber of commerce and Industry and Chairman United International Group, Mian Shahid has asked the government to consider reducing fuel prices by bringing taxes down in the upcoming budget which will trigger economic growth and provide relief to masses.
He said that all sectors must be included in the tax net so that prices of essentials could be reduced providing relief to business community and masses, he said.
Talking to Patron Chamber of Small Traders Shahid Rasheed Butt, he said that prices of CNG and imported fuel must be reduced.
Mian Shahid said that CNG sector has been paying highest tariff as compare to any other sector. CNG sector pays Rs 856.52 per mmbtu while captive power plants pay Rs 773.28, industry is paying Rs 588.23 while IPPs are charged Rs 588.23 for one mmbtu of gas and fertilizer sector pays the least Rs 423.41 for one MMBTU of gas.
He said that import price of petrol is Rs 44.32 while the retail price is 74.50 after including margins, sales tax, import duty and petroleum levy.
Similarly import price of HOBC is Rs 54.23 while retail price stands at Rs 81.00, kerosene 44.76 and Rs 62.00, diesel Rs 44.55 and Rs 84.00 and import price of light speed diesel is Rs44.04 which is sold at Rs 58.50.
Seventeen percent sales tax has been imposed on all imported fuels but the rate of sales tax for diesel is 27 percent which makes it too costly, he said.
