Petrol duty reduced

24 January 2011 05:43 am

The Finance Ministry has slashed Rs.10 of the custom duty levied on a liter of petrol effective from January 10, Petroleum Ministry Secretary H.T.M. Jayawardana said.

He added that the custom duty reduction of Rs.10 from Rs. 15 was to cushion the losses incurred by the IOC and the CPC following the recent price hike of petrol in the global market.  (SAJ)