Pakistan LPG Marketers Association (PLGPMA) has urged the Ministry of Planning, Development and Special Initiatives to address genuine reservations of the liquefied petroleum gas (LPG) industry. Iftikhar added that the domestic producer price should be determined through auctions with the ceiling of Saudi Aramco contract price for the prevailing month. Without the ceiling, he said, larger companies with deep pockets would drive the price higher for the end-users and crowd out smaller companies. He said general sales tax on local LPG must be reduced to 10% and petroleum development levy be maintained at the current level of Rs4,669 per metric ton. However, to encourage imports and reduce their price, 5.5% advance income tax should be abolished.”Published in The Express Tribune, November 25th, 2020.

Source: The Express Tribune November 25, 2020 03:22 UTC