Tuesday, 2 February 2016

News of Ogra Summary rejected POL /petrol prices decreased by RS-5 only

Pakistan. Despite a 40-50% reduction in oil prices in the international market, the government did not pass on the benefit of consumers in the summary transmitted to the oil and gas Regulatory Authority (Ogra), as well as the Ministry of Finance to reduce the price of petroleum products declined by 10 percent.

In summary, Ogra recommended a decrease the price of petrol by Rs7.56, high speed diesel
approved by the Prime Minister, was the seed of light diesel price cut Rs7.36. But Prime
Minister Nawaz Sharif announced a reduction in POL pricesRS5 per liter for all categories of petroleum products, including gasoline and diesel. Prices “All countries in the region , including India are see more on  92 newshd live
It POL prices in the international market has touched its lowest ebb in recent months, and avoids passing on the full benefits of a government argument that it was creating a buffer to avoid a sudden surge in “Prices”. “ These All countries including India and other country around us are maintaining fiscal balance in oil prices," sources said. For more details express news live streaming Moreover, the government brought changes to the mechanism for the imposition of income tax (GST) on petroleum products and slapped a fixed amount per liter in Rupee terms for all products.

The new tax rate will be starting Feb 1, 2016 the direct sales tax should be applied to the import of POL products. Earlier, the FBR is used to impose the GST in terms of percentage of per -liter basis. Currently, the tax rate increased GST applied to all goods and Paul rupee- in a fixed period. According FBR, the government imposed Rs14.48 per liter on motor spirit excluding GST HOBC. On HOBC, imposed the GST stands at Rs18.57 per liter.

On kerosene, the government has imposed GST rate of Rs10.40 per liter. On High Speed ​​diesel, imposed GST now stands at Rs29.57 per liter. On lighter diesel fuel that was slapped on the amount of GST Rs9.63 per liter with effect from 1 February 2016.  The FBR is facing a setback due to the reduction in oil prices is having far-reaching negative consequences of its revenue collection target of Rs3,104 billion for the current fiscal year. For Sports news see on Ptv Sports live cricket. The expansion will provide additional GST revenue for the current fiscal year to help FBR to patch the desired tax collection target for the current fiscal year.

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