President of Lasbela Chamber of Commerce and Industry (LCCI) Yakoob H Karim has demanded of the government to reduce sales tax to 17 percent from prevailing 27 percent on petroleum products in order to provide relief to consumers. Welcoming the decision of the Federal Minister for Finance for retaining the POL prices for March, he said that retaining petroleum prices for March 2015 was a wise decision as against an anti-economy and anti-consumers' advice by the OGRA to revise prices upward by 5 to 7 per cent for March.
He said the people of Pakistan were not given price cushion as per the falling oil prices in the international market which dropped to over $50 per barrel from almost $110 per barrel in a period of six months. He said that OGRA had never tried to give relief to consumers and only suggested the rulers to revise POL prices upward ignoring the facts and international market trends. He said the government should act as per the price fluctuation internationally. He hoped that Finance Minister Ishaq Dar would fulfill his commitment regarding reduction in GST on POL products.
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