ISLAMABAD: Federal Board of Revenue (FBR) has increased sales tax on high speed diesel to 31 percent from 30 percent to be applicable from October 01, 2017.
The FBR issued SRO 984(I)/2017 to notify sales tax during October 2017. The FBR only increased sales tax by one percent on supply of high speed diesel. However, the sales tax rates on other POL products kept unchanged. The sales tax rate on POL products are: motor spirit excluding HOBC, 17 percent; kerosene, zero percent; and light diesel oil, zero percent.
Earlier in the day, the government announced the prices of petroleum products for the period starting from October 01, 2017 until midnight on October 31, 2017.
On the basis of the prevailing prices in the international market, OGRA recommended an increase of Rs. 2.35/Litre in the price of MS 92 RON Petrol, increase of Rs. 2.17/Litre in the price of High Speed Diesel (HSD), increase of Rs. 19.32/Litre in the price of Kerosene Oil, and increase of Rs. 14.09/Litre in the price of Light Diesel Oil (LDO).
After considering the proposal of OGRA, the Prime Minister has decided that the prices of HSD, MS 92 RON Petrol and LDO will be increased by Rs. 2.00/Litre each, while the price of Kerosene Oil will be increased by Rs. 4.00/Litre. As a result, the new prices will be as follows:
New prices
Petrol Rs73.50/litre
High Speed Diesel (HSD) Rs79.40/litre
Light Diesel Oil (LDO) Rs46.00/litre
Kerosene Oil Rs48.00/litre
