New Delhi, May 16 (IANS) The government has revised export taxes on petroleum products, imposing a special additional excise duty (SAED) of Rs 3 per litre on petrol exports while reducing the duty on diesel to Rs 16.5 per litre, effective from Saturday.The notification by the Ministry of Finance stated that the entry of Rs 3 per litre shall be substituted for petrol exports, while diesel has been revised to Rs 16.5 per litre.It further said the road and infrastructure cess has been reduced to ze…
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Kathmandu, April 7 (IANS) The new government in Nepal on Tuesday decided to provide partial tax exemptions on petroleum products in a move to ease the financial burden on consumers, mirroring a similar decision by the Indian government. A Cabinet meeting held on Tuesday approved a 50 per cent exemption on customs duties and infrastructure tax imposed on petrol, diesel, and kerosene, Minister for Federal Affairs and General Administration Pratibha Rawal told journalists. “The decision will be p…
New Delhi, April 6 (IANS) The International Monetary Fund (IMF) has asked Pakistan to eliminate, at the earliest, distortions in the pricing of petroleum products due to the subsidy extended by the federal government to consumers amid the surge in global prices triggered by the Iran war, local media reports said on Monday.A senior government official has confirmed that the IMF remains concerned about existing distortions, particularly in diesel pricing, and is pushing for their early removal, th…