Islamabad: Talks between tax policy diagnostic mission of International Monetary Fund (IMF) and Energy Ministry to review the initiatives under the Petroleum Development Levy on petroleum products will be held tomorrow(Thursday). During discussion, the IMF team decided to review the initiatives under the Petroleum Development Levy on petroleum products. Beside Petroleum levy, the mission will also discuss other revenue measures related to petroleum division, the source said. The consecutive governments of the PDM and Caretaker government have jacked up the petroleum Levy on Petrol and High Speed Diesel(HSD) to the maximum level. During the first quarter of 2023-24 (July to September), the collection of petroleum levy has recorded an increase of 368% on an annual basis.

Source: The Nation November 29, 2023 15:06 UTC