ISLAMABAD: The government is expected to collect approximately Rs75 billion on account of different taxes, levy, duty etc from consumers of petroleum products in July, Pakistan Today has learnt. Informed sources said that following a record increase in the per litre price of petroleum products (POL), the government will collect around Rs45bn under petroleum levy and Rs25bn on account of GST in July. They added that the government has set Rs450bn collection target under the head of petroleum levy for the next financial year, while Rs5bn will be collected under regulatory duty from POL consumers. Similarly, the government has been collecting Rs51 on each litre of high speed diesel, Rs30/litre petroleum levy, GST of Rs 14.74/litre and customs duty of Rs6.20/litre. In a sudden move on Friday evening, the government had increased the prices of all petroleum products by up to nearly Rs26 to share the impact of rising international prices with the consumers.

Source: Pakistan Today June 27, 2020 17:55 UTC