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Why so much tax on petroleum products?

By: Hafsa Ali

Surprisingly, on the one hand, the government has repeatedly taken notice of rising inflation and claimed that it has come down, but on the other hand, it has imposed huge taxes on petroleum products in various ways and has kept inflation at bay. Equipment is also being provided to increase. Huge amount of money is being collected from the people in the name of levy tax, duties and margins on petroleum products. Levies, duties and margins are being levied at Rs 47.59 per liter on petrol and Rs 45.95 per liter on high speed diesel. At present, the actual price of petrol is Rs 64.31 per liter but for the public it has been fixed at Rs 111.90 per liter, while the actual price of high speed diesel is Rs 70.13 per liter and for the public its price is Rs 116.8 per liter. In addition to the petroleum levy of Rs. 21-4 paise, sales tax is being levied separately at Rs. 16-26 paise, dealer margin at Rs. 3 70 paise, distributor margin at Rs. 2 81 paise and Rs. 3 78 paise per liter in IFEM. – While high speed diesel is being charged Rs. 22 Petroleum Levy, Rs. 16 Sales Tax Rs. 3 Dealer Margin and Rs. 2 Distributor Margin while Rs. 1 per liter IFEM is being levied – To stop this process of collecting huge amount in case of taxes. Or there is no government effort to reduce it, but it is constantly increasing. Energy prices have a direct impact on the prices of other essential commodities. In such a scenario, how can the people be satisfied with the government’s efforts to control inflation? Therefore, it is important to reduce the surcharge on petroleum products first.

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