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Govt decides to reduce tax on petroleum products

KATHMANDU, May 27: The government has decided to reduce the infrastructure tax on petroleum products. A Cabinet meeting held on Friday decided to provide relief to the consumers by reducing the tax being levied on petroleum products.

The Council of Ministers, agreeing in principle to remove the infrastructure tax being imposed on petroleum products, has asked the Ministry of Finance to implement it immediately after doing the necessary calculations. The process will be taken forward by reducing the infrastructure tax and customs duty by Rs 5 each per liter, for the time being.

The government has been adjusting the price of petroleum products according to the price of crude oil in the international market. In the last two weeks, the prices of petrol, diesel and kerosene have increased by Rs 10 per liter each. At present, petrol costs Rs 180 per liter and diesel and kerosene cost Rs 163 per liter.

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