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).
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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.
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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.
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Pakistan’s Import of Petroleum Products Drops by 36.55% During First Quarter
Karachi, October 18, 2023: Pakistan’s import of petroleum products dropped by 36.55 percent during the first quarter (July-September) of fiscal year 2023-24.
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Prices of Petroleum Products in Pakistan on September 19, 2023
On September 19, 2023, Islamabad, Pakistan unveiled a meticulously calculated pricing regime for petroleum commodities, slated for enforcement throughout the remainder of this month.
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Pakistan’s Import of Petroleum Products Plunges by 41% in Two Months of FY24
Karachi, September 17, 2023 – Pakistan’s import of petroleum products has seen a substantial decline of 41 percent during the first two months of the fiscal year 2023-24, according to official statistics released by the Pakistan Bureau of Statistics (PBS).
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Pakistan Introduces Rules for Petroleum Product Import on Foreign Suppliers’ Account
Islamabad, September 11, 2023 – Pakistan has formally established regulations governing the import of petroleum products under the account of foreign suppliers. The Ministry of Commerce has promulgated a Statutory Regulatory Order (SRO) to this effect.
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Petroleum Sales Witness 8% Decline in August 2023
Karachi, September 2, 2023 – Pakistan’s total petroleum sales for August 2023 reached 1.41 million tons, marking an 8 percent year-on-year (YoY) decline.
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Pakistan’s Import Bill for Petroleum Products Sees Sharp 37% Drop in FY23
Islamabad, July 20, 2023 – Pakistan’s import bill for petroleum products witnessed a significant decline of 37 percent during the fiscal year 2022-23, as per official statistics released by the Pakistan Bureau of Statistics (PBS).
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Influx of Smuggled Petroleum Products Causes Significant Drop in Petrol Pump Sales
Karachi, July 12, 2023 – The Pakistan Petroleum Dealers Association (PPDA) has raised concerns over the detrimental effects of an influx of smuggled petroleum products on the sales of petrol pumps across the country.
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