Karachi: Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Amaan Paracha, has voiced strong opposition to the government's recent decision to increase the petroleum levy on petrol and diesel. He argues that while global oil prices have declined, the government has failed to pass on the benefits to consumers, thereby exacerbating the public's financial strain amidst ongoing inflation.

According to Federation of Pakistan Chambers of Commerce and Industry, Paracha highlighted that the government raised the petroleum levy on petrol by Rs 4.65 per litre, from Rs 79.62 to Rs 84.27, and increased the levy on diesel by 80 paisa per litre, from Rs 75.41 to Rs 76.21. He suggested that maintaining the previous levy rates could have reduced petrol prices by approximately Rs 4.50 per litre.

Paracha further criticized the high taxes on petroleum products in Pakistan, noting that despite these levies, the expected improvements in public development and welfare have not materialized. He pointed out that the public and business community bear significant tax burdens, but the government continues to report low tax collection, attributing this to widespread corruption and a slow pace of development.

He emphasized that globally, reductions in petroleum prices typically benefit consumers. However, in Pakistan, domestic prices remain unchanged or increase with rising international oil prices, depriving the public of potential relief. Instead of reducing prices, the government has opted to increase the levy, adding to the financial burden on the populace.