By Ali Imran
ISLAMABAD: The federal government is not looking to impose the general sales tax (GST) on petroleum products, however, the petroleum development levy (PDL) would be jacked up to Rs. 50 per liter by April 2023, Ministry of Petroleum Secretary Ali Raza Bhutta said on Friday. At a meeting of the Senate Standing Committee on Petroleum, Bhutta stated that Pakistan State Oil (PSO) has a 55 percent stake in the petroleum market of the country. Such a high market share of the state-owned company is enough to prevent any kind of collusion in the oil market. Oil and Gas Regulatory Authority (OGRA) Chairman Masroor Khan apprised the committee that several petroleum standards exist in Pakistan based on which petroleum prices are fixed. –Agencies
