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Import tax on petrol reduced to Rs.5 per litre

The government has reduced import tax on petrol from Rs. 15 to Rs. 5 per litre with effect from January 10, 2011 despite increases in international prices, Secretary of the Ministry of Petroleum Titus Jayawardena told Ada Derana.

The decision was taken by the Ministry of Finance and the Ministry of Petroleum after the Lanka Indian Oil Company (LIOC) and the Ceylon Petroleum Corporation (CPC) had requested a domestic price hike in view of increasing world market prices. Instead a decision was taken to reduce import taxes on petrol in order to maintain the local prices.

Posted on Tuesday, January 25, 2011 @ 02:40:33 LKT


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