Tuesday, 22 April 2025
Tax increase puts Petroleum Corp. in crisis

Tax increase puts Petroleum Corp. in crisis Featured

Due to the imposing of a Rs. 10 special production tax per litre of fuel manufactured by imported crude oil, Petroleum Corporation incurs a loss of Rs. 30 billion annually.

The Petroleum Corporation has to bear this loss due to this tax being imposed without increasing the price of fuel.

It is said that the Petroleum Minister had also not been consulted prior to imposing this tax.

This special production tax was recommended by the Finance Ministry and it is reported that the Petroleum Minister had voiced his disapproval against the matter.

Previously three rupees was charged as tax per litre of manufactured fuel.

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