Petroleum levy estimated at Rs110 bn in new budget

ISLAMABAD: It has been estimated that petroleum levy will generate Rs110 billion revenue and Gas Development Surcharge Rs35 billion in the next year’s budget, Geo News reported Saturday.Sources at...

AFP

May 14, 2011

Petroleum levy estimated at Rs110 bn in new budget

ISLAMABAD: It has been estimated that petroleum levy will generate Rs110 billion revenue and Gas Development Surcharge Rs35 billion in the next year’s budget, Geo News reported Saturday.

Sources at Finance Ministry told Geo News that Rs170 billion was provided in subsidy for electricity and Rs45 billion for petroleum products in the current fiscal year.

The targeted revenue from petroleum levy was Rs115 billion in the current fiscal but only up to Rs90 would be generated against the target.