ISLAMABAD -UNS – A three-member bench of Supreme Court headed by Chief Justice Mian Saqib Nisar heard the suo motunotice case against the undue taxes on petroleum products.
“25 percent tax is imposed on the petroleum products. Whenever the prices fell down in international market and it’s time to provide relief to the public, sales tax is set on them. We will conduct the forensic audit of the prices,” remarked CJP.
“What sort of tax is applicable on the petroleum products? What is their price in international market and in Pakistan?” inquired Justice Ijazul Ahsan.
The additional attorney general told that the prices are lesser in Pakistan than the region. “Don’t compare the prices with India. Do we have any competition with India in IT sector?” said the CJP.
On Tuesday, SC took suo motu notice of undue taxes on petroleum products.
A three-member bench of the apex court headed by Justice Mian Saqib Nisar was formed to take up the case.
Justice Saqib Nisar also issued notices to Ministry of Finance, Ministry of Petroleum, Federal Board of Revenue (FBR) and Attorney General in this regard.
The three-member bench will take up the case on Sunday.