The National Assembly has approved a phased increase of Rs 50 in the price of petroleum levy.

The National Assembly approved a phased increase of Rs 50 in the price of petroleum levy.

A motion for passage of Finance Bill 2022-23 was moved in the National Assembly sitting chaired by Speaker Raja Pervez Ashraf, which was passed by the House.

Minister of State for Finance Ayesha Ghous Pasha sought approval of the House to increase the petroleum levy tax by Rs 50 on a phased basis in the next financial year. The House approved an amendment to levy Rs 50 per liter on petroleum products.

Ayesha Ghous Pasha said that we have brought such taxes which will be levied on the rich people. We did this so that the common man would not be burdened. The changes we made were made by the previous government from the IMF. Observing

Finance Minister Muftah Ismail said that at present the levy on petroleum products is zero, levy of Rs 50 per liter will not be levied in one go, the National Assembly has given the authority to impose levy on petroleum products to the government.