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Petroleum levy collection registers 100 percent increase

ISLAMABAD: The collection of petroleum levy has registered almost 100 percent increase during the first half of the current fiscal year, according to official statistics made available on Saturday.

The collection of petroleum levy increased to Rs275 billion during July – December of the current fiscal year as compared with Rs138 billion in the corresponding half of the last fiscal year.

The petroleum levy is one of the major components of non-tax revenue of the federal government financing the budget deficit and creating room for development expenditures.

The federal government was collecting Rs22.27 as petroleum levy on per liter of gasoline in December 2020. Meanwhile the levy was Rs15.74 on per liter gasoline included in retail price during November 2019.