IMF team to discuss POL levy, other revenue measures with petroleum officials

The technical team of the International Monetary Fund will meet the officials of petroleum division to discuss the petroleum levy and other revenue measures, reported 24NewsHD TV channel on Tuesday.

The IMF technical team is currently on Pakistan visit. During their visit, the IMF officials will review the government’s tax policy. I

Sources said that the IMF team requested to meet the petroleum division officials. The meeting will be held on November 30 in which petroleum levy and other revenue measures will be considered.

The government has made 368% increase in the collection of petroleum levy on an annual basis from July to September 2023.

The federal government has collected Rs222 billion in the form of levy in the first quarter of the current fiscal year.

Last year from July to September, the government received Rs47.48 billion in the form of levy.

For the current fiscal, the target for levy has been fixed Rs869 billion.

Currently, a levy of Rs60 is being collected on petrol per litre. The levy rate on high speed diesel is also Rs60 per litre.

Reporter Waqas Azeem