The All Pakistan Business Forum has flayed the government for partially passing on the impact of massive international oil price reduction to the public, as the authorities have increased the overall GST and petroleum levy on petroleum products to the highest level of over Rs 40 per litre.
APBF President Syed Maaz Mahmood said that the benchmark Brent crude prices have plunged by 80% since Jan 2020 to $15.5 per barrel.
But the government, instead of providing full relief of steepest fall in oil prices to the industry, which is badly hit by the coronavirus lockdown, further increased the rate of petroleum levy on petrol by another 26% from existing Rs 23 to the record high limit along with the GST.
