Government moves to slash oil tariff

The parliament has approved government-sponsored legislation for reducing the import duty for petroleum products from 10 to five percent.

In an expedited process at Monday’s sitting, the amendments proposed by Majority Leader Ahmed Nihan to the import-export law were debated and sent to a committee of the full house, which promptly tasked the economic affairs committee with completing a review and sending the bill back to the floor by next Monday.

Presenting the bill, Nihan said the government’s aim is to reduce the cost of living by making electricity, petrol and diesel cheaper.

“If there is anyone who should support this tax cut wholeheartedly, it is the opposition members in the parliament. I do not see any reason that this will not pass,” he said.