LAHORE: The government is charging Rs60 per liter on petrol and Rs50 per liter on diesel as petroleum levy from the consumers.
It should be noted that under the ongoing programme of the IMF, the government is required to charge Rs60 per liter on petrol and Rs50 per liter on diesel as a levy, due to which the government levied Rs5 per liter on Sept 1, reaching the petroleum levy to Rs60 per litre.
According to the documents released by the finance ministry, the government has set a target of collecting a record Rs869 billion in the form of petroleum levy during the current financial year 2023-2024.
However, keeping the previous approach, the government would not be able to achieve the target of petroleum levy even in the current financial year. Govt is likely to face a loss of more than Rs100.5 billion may be faced.
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During the last financial year 2022-2023, petrol sales in the country declined by 16 percent to 7.4 lakh metric tonnes, which was about nine million metric tonnes in the financial year 2021-2022.
Similarly, during the last financial year 2022-2023, diesel sales in the country declined by 24 percent to about 6.4 lakh metric tonnes, which was about 8.9 lakh metric tonnes in the financial year 2021-2022.
