Import duties have been withdrawn on a range of fuels including diesel and natural gas, while concessions have been granted on the import of CNG, LPG, and LNG.
Notably, the import duty on natural gas has been slashed from 100 percent to 0 percent in one fell swoop. The duty on crude and partially refined petroleum, fuel oils, gas oil, other heavy oils, and preparations has also been waived entirely.
Similarly, the import duty on recycled lubricating oil and recycled lube base oil has been reduced to zero.
For CNG, LPG, and LNG, the import duty has been lowered from 10 percent to 5 percent.
The proposed budget also recommends reducing the import duty on crude oil and oil derived from bituminous minerals from 5 percent to 1 percent.
For aviation fuels such as jet fuel, kerosene, naphtha, various types of motor and aviation spirits, and white spirit, the government has proposed reducing the import duty from 10 percent to 3 percent, and likewise for light diesel oil and high-speed diesel oil.
