Pakistanis paid more than Rs 1.43 trillion in petrol levy in the last one year.
ISLAMABAD – The Pakistani government has received over Rs 1,430 billion. Petroleum Development Levy (PDL) During the first eleven months of the current fiscal year, government documents show a sharp rise in power sector revenues amid strong enforcement and high levy rates.
Collections are already close to the annual target of Rs 1,468 billion, with officials expecting an additional Rs 100 billion in revenue by the end of the fiscal year, possibly pushing total collections well beyond estimates.
A year-on-year comparison shows that petroleum levy collections are about Rs 600 billion higher than the same period last year, indicating a significant expansion in revenue generation from petroleum products.
| The month | Petroleum levy in billions |
|---|---|
| July | 157.00 |
| August | 103.46 |
| September | 112.85 |
| October | 143.48 |
| November | 148.36 |
| December | 162.46 |
| January | 108.76 |
| February | 120.39 |
| March | 139.48 |
| April | 146.00 |
| May | 87.50 |
The monthly figures show fluctuating but strong inflows throughout the fiscal year. 157 billion in July, 103.46 billion in August, 112.85 billion in September, 143.48 billion in October, 148.36 billion in November, and 162.46 billion in December. Revenue then declined to Rs 108.76 billion in January and Rs 120.39 billion in February, before falling to Rs 139.48 billion in March and Rs 146 billion in April. In May, receipts reached around Rs 87.50 billion.
A breakdown of the data shows that between July and May, Rs 686.52 billion was collected from imported petrol and diesel, while Rs 753.54 billion was earned from domestically refined petroleum products.
In May alone, imported petroleum products contributed about Rs 50 billion, while locally refined fuel added about Rs 37 billion to the exchequer.
Officials attributed the rise in revenues to higher than budget approved petroleum levies under the Finance Bill and commitments to the International Monetary Fund (IMF) as well as better management measures and stricter enforcement.
Pakistan has reduced the price of petrol by Rs 4 per litre
The post Pakistanis have paid more than 1.43 trillion rupees in petrol levy in the last one year appeared first on Daily Pakistan English News.
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