Karachi, September 14, 2024 – The Oil Marketing Association of Pakistan, under the leadership of Senior Vice Chairman Tariq Mehmood, met with Federal Minister for Commerce Jam Kamal Khan on Saturday to discuss the expansion and development of the fuel oil industry in Balochistan.
(more…)Tag: petroleum products
-
High Petroleum Prices Cut Sales 11% YoY in July 2024
Karachi, August 2, 2024 – High petroleum prices have significantly impacted the oil sector, reducing sales by 11% year-on-year (YoY) in July 2024, according to research analysts at Arif Habib Limited. Total petroleum sales for the month stood at 1.20 million tons, reflecting the challenging market conditions.
(more…) -
OCAC Demands End to Tax Exemption on Petroleum Products
Karachi, July 12, 2024 – The Oil Companies Advisory Council (OCAC) has thrown a wrench into the government’s recent tax plan, urging the removal of the sales tax exemption on petroleum products.
(more…) -
Petrol Pumps to Remain Open Despite Strike Call: Authorities
Islamabad, July 5, 2024: In a move to mitigate disruptions caused by a planned strike by the Pakistan Petroleum Dealer’s Association (PPDA), the Petroleum Division has taken steps to ensure an uninterrupted fuel supply across the country.
(more…) -
Pakistan Grants Rs 1.4 Trillion Tax Exemption on Petroleum Sales
PkRevenue.com — In a significant fiscal move aimed at alleviating inflationary pressures on its citizens, Pakistan has granted a sales tax exemption totaling Rs 1.4 trillion on petroleum products for the fiscal year 2023-24, as revealed by official documents on Wednesday.
(more…) -
Pakistan’s Petroleum Imports Drop 11% in 8MFY24
Karachi, March 16, 2024 – Pakistan’s import of petroleum products has seen a significant decline in the first eight months (July-February) of the current fiscal year 2023-24, according to data released by the Pakistan Bureau of Statistics (PBS).
(more…) -
Pakistan Witnesses 15% Plunge in Petroleum Sales in 1HFY24
Karachi, January 2, 2024 – Pakistan has reported a significant 15% decline in petroleum sales during the first half (July – December) of the fiscal year 2023-24.
(more…) -
FBR Grants Tax-Free Petroleum Product Sharing to OMCs
Karachi, December 26, 2023 – The Federal Board of Revenue (FBR) has granted permission for tax-free sharing of petroleum products among Oil Marketing Companies (OMCs).
(more…) -
FBR Achieves Rs 722 Billion in Revenue from Petroleum Duties and Sales Tax in FY23
Karachi, December 2, 2023 – The Federal Board of Revenue (FBR) has successfully garnered Rs 722 billion through customs duty and sales tax on the import and supply of petroleum products during the fiscal year 2022-2023.
(more…) -
Citizens Rejoice as Government Extends Sales Tax Holiday on Petroleum Products
Karachi, November 16, 2023 –The citizens in Pakistan are set to continue enjoying a sales tax holiday on the purchase of petroleum products throughout the second half of November 2023 in a move of the government aimed at providing relief to the masses amidst a global economic downturn.
(more…)