ISLAMABAD: The Pakistan Economy Watch (PEW) on Sunday said prices of petroleum products in the country are far more than the international market which is hurting masses and every segment of the economy. Petroleum prices can be reduced if Federal Board of Revenue starts taxing nobility which would automatically reduce pressure on the poor masses, it said. PEW President Dr Murtaza Mughal said that the government has no other option but to heavily tax the petroleum imports which is choking the economic growth. He said that all the important petroleum products are attracting double-digit taxation which has burdened the masses. He added that this situation could take a positive turn if corruption was reduced in the tax administration. Last year the consumers of diesel paid Rs 29.57 as GST on every litre while they paid six rupees on every litre which is a form of petroleum levy and this had a very negative impact on the economy as diesel has a lot of consumers. Consumers paid Rs 15.22 on every litre of petrol as GST, they paid Rs 13.18 on every litre of kerosene oil and Rs 12.21 on every litre of light diesel which helped the government in raking in billions. Closure of CNG in Punjab hiked the use of petrol and income of the government while the government is making around Rs 25 billion on account of GST and Rs 10 billion on account of petroleum levy every month, he said. High prices of petrol and diesel should be reduced as it continues to damage critical sectors of the economy and hit masses from all directions, therefore, it can be termed as unjustified.