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Govt plans to impose petroleum levy on CNG

ISLAMABAD : The Ministry of Petroleum has decided to impose a petroleum levy on compressed natural gas (CNG) of Rs5 per
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By Imad Uddin
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ISLAMABAD: The Ministry of Petroleum has decided to impose a petroleum levy on compressed natural gas (CNG) of Rs5 per kilogram.

This latest decision comes a week after the government increased the price of CNG by Rs6 per kilogram.
The ministry says that the government will earn additional revenue of Rs12 billion through this levy.
Officials said the decision was made to reduce the profit of CNG owners. They said the CNG sector could not be promoted any further due to the country's depleting gas reservoirs.
On the other hand, the CNG Association has rejected the proposed petroleum levy on CNG and called a meeting on August 11 to chalk out its next strategy.

 

Copyright NNI (News Network International), 2010

 

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