Fuel Import tax cut to keep prices stable

Tuesday, 25 January 2011 00:42 -     - {{hitsCtrl.values.hits}}

THE Government yesterday reduced the import tax on petroleum to 5% from 10% to keep retail fuel prices intact.

The move follows Lanka IOC renewing its appeal for a hike on account of rising prices globally. LIOC had asked for a Rs. 15 hike on petrol and Rs. 5 increase on diesel.

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