Islamabad: The significant share of taxes in the prices of petroleum products in Pakistan is causing increasing financial pressure on consumers. According to sources in the Ministry of Energy, the price of one liter of petrol includes taxes worth Rs 129.72, which constitutes about 32 percent of the total price.
According to the details, the taxes included in the price of petrol include Rs 23.72 customs duty, Rs 103.50 petroleum levy and Rs 2.50 climate support levy. Similarly, the price of diesel per liter includes taxes worth Rs 82.81, which constitutes about 21 percent.
The taxes imposed on diesel include Rs 51.62 customs duty, Rs 28.69 levy and Rs 2.50 climate support levy. Since diesel is widely used in the transport and agricultural sectors, the increase in its price has a direct impact on the prices of food items.
According to experts, tax revenue is essential for the government, however, high taxes on petroleum products can lead to an increase in inflation. In the current situation, there is an ongoing debate as to whether relief can be provided to the public by reducing taxes or not.
