Punjab Cabinet on Sunday decided to slash VAT on the prices of petrol and diesel by Rs 10 and Rs 5 per litre, respectively, from Sunday midnight.
Talking to the media persons here at Punjab Bhawan after a Cabinet meeting, Punjab Chief Minister, Charanjit Singh Channi, said that with this decision now Punjab has the lowest fuel rates in the region (except UT Chandigarh) and the rates of diesel in Punjab was much lower than Haryana and Rajasthan. With Sunday’s decision, the rate of VAT on petrol has been reduced from 27.27% (24.79%+10% surcharge) to 15.15% (13.77%+10% surcharge) and that on diesel from 17.57% (15.93%+10% surcharge) to 10.91% (9.92%+10% surcharge).
