LAHORE: The Lahore High Court (LHC) has suspended implementation of petroleum development (PDT) tax on Liquefied Petroleum Gas (LPG), Express 24/7 reported Monday.
The Oil and Gas Regulatory Authority (Ogra) had imposed 11% PDT on LPG on September 20, which added Rs11,485 to the price of a metric tonne of the gas.
The tax added to the inflated price of LPG, taking it to a record of Rs115 kilogramme across the country.
The court has also suspended the implementation of the LPG policy for 2011.
(Read: Court suspends LPG policy implementation)
The verdict was announced in a case filed by LPG marketing companies and the LPG association of Pakistan.
Earlier, the price of LPG was slashed by Rs4,500 to Rs81,000 per ton as Saudi Aramco contract price (CP) for October also got slashed by $51.50 to $791 per tonne.
Acting Chairman of All Pakistan LPG Distributors Association Mohammad Ali Haider earlier said that international prices of LPG were falling.
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