Pakistan Jacks Up Petroleum Levy to Rs60 per Liter
In a bid to generate non-tax revenue, Pakistan has recently announced an increase in the petroleum levy, raising it to Rs60 per liter.
Continue Reading
Tag: petroleum levy
Pakistan Expected to Raise Petrol Prices from July 2023 to Boost Revenue
Pakistan is expected to implement a petrol price hike starting from July 2023, during the fiscal year 2023/2024. The decision stems from the government’s ambitious goal of collecting approximately Rs870 billion in petroleum levies to enhance revenue generation, as outlined in budget documents.
Continue Reading
Pakistan Aims to Generate Rs870 Billion from Petroleum Levy in 2023-24
Despite Challenges, Pakistan Sets Ambitious Revenue Target for Petroleum Levy in the Next Fiscal Year
Continue Reading
Petroleum levy collection soars by 189% to Rs362 billion
The collection of petroleum levy in Pakistan has soared by 189 percent to Rs362.48 billion during first nine months (July – March) 2022-2023 as compared with Rs125.56 billion in corresponding months of the last fiscal year, official data revealed.
Continue Reading
ECC approves raising petroleum levy to Rs50 per liter on RON 95
ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Friday approved increasing petroleum levy to Rs50 per liter on RON 95. Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar presided over the meeting of the ECC at Finance Division. READ MORE: Petroleum sales decrease by 22% in four months of 2022-2023 Federal […]
Continue Reading
NA approves levy on petroleum products up to Rs50/liter
ISLAMABAD: National Assembly (NA) has approved a levy of Rs50 per liter on each petroleum product. The assembly allowed the government to include the levy in the prices of petroleum products up to Rs50 per liter of each product. READ MORE: All tax proposals of IT sector accepted: FBR The National Assembly passed the Finance […]
Continue Reading
Petroleum levy to generate Rs750 billion
ISLAMABAD: The government has estimated a collection of Rs750 billion as petroleum levy during next fiscal year 2022/2023. It is worth mentioning that the previous PTI government had not imposed a petroleum levy in order to provide petroleum products at cheaper rates. READ MORE: FBR assigned tax collection target of Rs7 trillion in 2022/2023 However, […]
Continue Reading
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.
Continue Reading