Govt imposes 10% duty on petrol, diesel imports

MG News | July 02, 2024 at 11:51 AM GMT+05:00

0:00

July 02, 2024 (MLN): The federal government has levied a 10% regulatory duty on the import of Motor Spirit and High-Speed diesel oil.

Additionally, a 5% levy has been imposed on imports of White Oil and Natural Gas respectively.

According to a notification issued by the Ministry of Finance’s Revenue Division, this is effective from July 01, 2024, and, unless rescinded earlier, will remain in force until June 30, 2025.

These actions are being taken by the government to help it meet its challenging tax revenue target of Rs13 trillion for the year (FY25).

The increased regulatory duties (RD) will be imposed on imports of 657 luxury and non-essential items.

In a related development, the government has raised the price of petrol by Rs7.45 per litre to Rs265.61.

Similarly, the price of High-Speed Diesel (HSD) has been increased by Rs9.56 per litre to Rs277.45 for the current fortnight.

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