Pakistan govt tax on oil is more than subsidy

The Pakistan government has worked out a subsidy of Rs85 billion after this month’s change in petroleum prices, which is much less than what it is earning by slapping sales tax and petroleum development levy, official sources revealed Thursday.

Sources in the petroleum ministry said the government shed much of its subsidy burden on September 16 when it prices of high-speed diesel, kerosene oil and light oil rates by Rs3.5 a litre.