Latest news with #Rs.34
Business Recorder
15-05-2025
- Business
- Business Recorder
Hike in prices of petrol, diesel likely
ISLAMABAD: The government is expected to approve an increase of over Rs 4 per litre in the price of petrol (MS) and diesel, aiming to generate Rs 35 billion. The funds will support oil refineries, address sales tax challenges, and raise the profit margins of Oil Marketing Companies (OMCs). According to official documents, petroleum products— including petrol, diesel, kerosene, and light diesel oil (LDO) —have been classified as 'exempt' under the Finance Act 2024–25. As a result, input sales tax has become a cost for refineries and OMCs, totalling an estimated Rs 35 billion for the fiscal year, which cannot be recovered through product prices due to government regulations enforced by the Oil and Gas Regulatory Authority (OGRA). A draft proposal to levy a 3–5% sales tax on petrol and diesel was developed in consultation with the oil industry, the Ministry of Finance, and the Federal Board of Revenue (FBR). However, it was shelved due to the absence of an agreement with the International Monetary Fund (IMF) on allowing reduced GST rates for these products. Govt cuts petrol, diesel prices by Rs2 per litre for next fortnight Sources noted that applying the standard 18% GST would result in a price hike of approximately Rs 45 per litre— an increase considered politically and economically unfeasible. Any adjustment to the sales tax rate would require IMF approval and endorsement from Parliament. In parallel, OMCs and petroleum dealers have sought increases in their per-litre margins on petrol and diesel. To support the sustainability of the oil supply chain, OGRA has recommended raising the margins by Rs 1.13 for OMCs and Rs 1.40 for dealers. OGRA's recommendations have been reviewed, and certain amendments have been suggested in the summary. To partially address the financial challenges faced by refineries, OMCs, and dealers, the following proposals have been submitted for ECC's consideration: (i) since the petroleum products (Mogas, Diesel, Kerosene and LDO) are exempted from sales tax during current financial year, the refineries and OMCs' unadjusted sales tax during July 2024- June 2025 on these products may be compensated through Inter Freight Equalisation Margin (IFEM) estimated Rs.34 billion. The amount may be recovered in 12 months and recovery of this item will cease from the 13th month automatically; (ii) for FY 2025-26, 3-5% sales tax on above mentioned products may be imposed through Finance Act; however, in case the products remain exempted from sales tax in the FY 2025-25, the unadjusted sales tax may continue to be compensated through IFEM as a fallback option to keep the oil supply chain sustainable; (iii) the margins of OMCs and Petroleum Dealers may be enhanced to keep their business sustainable; and (iv) OGRA will develop a mechanism for adjustment of GST claims for above period and effective utilisation of digitisation cost along-with implementation timelines within one month of approval. Full cost of the digitisation will be borne by OMCs throughout the oil supply chain including outlets. The indicative impact on prices of MS and SHD will be as follows: (i) Refinery & OMCs 'unadjusted Sales Tax Rs. 28 billion for July-April, 2024 -25 and Rs 6 billion for May-June, 2025, impact Rs 1.87 per litre for 12 months; (ii) OMCs Margins (including-digitalization cost) Rs 1.13 per litre; and (iii) Petroleum Dealers Margin, Rs 1.12 per litre. The total impact will be Rs 4.12 per litre. The Government is likely to increase Attock Refinery Limited's (ARL's) freight charges by 30 per cent to Rs 1,490/ per barrel from Rs 1,143.95 per barrel for transportation of condensate as the key oil transporting companies have declined to accept the existing rate. Copyright Business Recorder, 2025
Mint
09-05-2025
- Business
- Mint
L&T, Britannia to Zee Entertainment: 6 Stocks declare dividend up to ₹75: Do you own?
Dividend Stocks: L&T (Larsen & Toubro Ltd), Britannia Industries , Zee Entertainment , Asian Paints, REC Ltd and Aarti Industries have declare dividend up to ₹ 75 L&T (Larsen & Toubro Ltd )- The Board of DiRECtors of L&T has recommended a Final Dividend of Rs.34/- per share of the face value Rs. 2/- each for the financial year ended March 31, 2025. During the previous year L&T had paid final dividend Rs. 28/- per share L&T said that it will arrange to pay the proposed Final Dividend after approval of the shareholders in the ensuing Annual General Meeting. Record date The Company has fixed Tuesday, June 3, 2025 as the Record Date for determining the entitlement of Members for the proposed Final Dividend. The company has recommended final dividend of ₹ 75/- per Equity Share of face value of ₹ 1/- each for the financial year ended 31st March, 2025 to be declared at the ensuing 106th Annual General Meeting ('AGM') of the Company. Final Dividend if declared, will be paid within the timelines prescribed under the law, said Britannia Britannia Industries has fixed the date of 106th AGM to be held on Monday, 11th August, 2025. Zee Entertainment - The Board of Zee Entertainment Enterprises Ltd has RECommended dividend of Rs. 2.43/- per equity share of Re. 1/- each for the financial year 2024-25, which is subject to the approval of the Members at the ensuing Annual General Meeting of the Company. REC Ltd- The company Board has made recommendation of final dividend of ₹ t2.60/- (Rupees Two and Paise 5ixly only) per equity share of face value of ₹ lO/- each for 'he financial year 2024-25. The same is subject 10 approval of shareholders in the ensuing Annual General Meeting ("AGM"). This dividend is in addition to the Interim Dividend(s) of ₹ 15.40/ - per equi!)' share already declared in four tranches, thereby making total dividend for the Financial Year 2024·25 by REC Ltd to ₹ 18 per equity share on face value of ₹ lO/· each The Board of Directors at their meeting held on. Thursday, 8th May 2025, while considering and approving Financial results for the quarter and year ending March 2025 have also Recommended payment of final dividend of Rs. 20.55 (Rupees twenty and paise fifty -five only) per equity share of the face value of Re. 1 (Rupee one) each for the financial year ended 31st March 2025, which is subject to the approval of the shareholders at the ensuing 79th Annual General Meeting of the Company. The total dividend by Asian Paints for the financial year ended 31st March 2025, aggregates to Rs. 24.80 (Rupees twenty-four and paise eighty only) per equity share of the face value of Re. 1 (Rupee one) each including the interim dividend of Rs. 4.25 (Rupees four and paise twenty-five only) per equity share as approved by the Board of Directors at their meeting held on 9th November 2024, which was paid thereafter. Record date for Asian Paints dividend The Company has fixed Tuesday, 10th June 2025 as the Record Date for determining the entitlement of members to the final dividend for the financial year ended 31 st March 2025. Dividend payment date -The dividend, if approved by the shareholders will be paid on or after Monday, 30th June 2025. The Board of Aarti Industries has recommended Dividend of Rs. 1/- (20%) per Equity Share of Face Value of Rs. 5/- each for the Financial Year ended March 31, 2025, subject to the approval of the Shareholders at the ensuing Annual General Meeting of the Company. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
