KATHMANDU: The government has introduced a green tax on petroleum products, coal, and related items as outlined in the Economic Bill-2081, presented by Finance Minister Barshaman Pun at a joint session of the Federal Parliament. According to the bill, a green tax of Rs. 1 per liter will be imposed on petrol and diesel with the objective of curbing the use of fossil fuels.
Furthermore, the bill proposes a green tax of 0.5 percent on furnace oil and base oil, and 1 percent on lubricant oil. Petroleum oil and oil derived from bituminous minerals, constituting 70 percent or more of petroleum oil, will also be subject to a 1 percent tax rate. These measures aim to incentivize the adoption of cleaner and more sustainable energy alternatives.
