Friday Jun 14, 2024
Friday Jun 14, 2024

FY 2024/25 Budget: Green tax on petrol and diesel

2024 May 29, 6:20,

The government has imposed a green tax on petroleum products, coal and other related goods.

The Economic Bill-2081 presented in the joint meeting of the Federal Parliament today by Finance Minister Barshaman Pun states that green tax will be levied at the rate of Rs.1 per liter on petrol and diesel. The tax has been proposed with the aim of reducing the use of fossil fuel.

Similarly, green tax equal to 0.5 percent will be levied on furnace oil, base oil and one percent on lubricant oil. Petroleum oil and oil obtained from bituminous minerals, 70 percent or more of petroleum oil will also be taxed by one percent.

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