July-February Collection of ST, duty on POL rises 9 per cent
By Mubarak Zeb Khan
ISLAMABAD, April 4: The collection of sales tax and CED on petroleum products increased by 9.02 per cent during eight months (July-February) of the current fiscal compared to the same period last year owing to increase in oil prices in the international markets. Official data made available to Dawn on Monday showed that the CBR raised Rs17.344 billion under the head of sales tax and central excise duty on petroleum products during the period under review as against Rs15.909 billion collected during the same period of the last year.
However, the statistics showed that petroleum development levy (PDL) collected by CBR on behalf of petroleum ministry declined by 72.7 per cent to Rs4.525 billion during the period under review as against Rs16.552 billion collected during the same period of the last year.
The decline in the petroleum development levy was mainly because of the freezing of the PDL to maintain the stability in the domestic POL prices due to surge in the oil prices in the international market during the beginning of the current fiscal year.
Further analysis showed that CBR collected Rs14.777bn on domestic supply of petroleum product during the July-February period as against Rs13.699bn during the same period of the last year, showing an increase of 7.86 per cent.
The collection of central excise duty on different petroleum products showed that CBR raised Rs335.245m from asphalt and bitumen during the period as against Rs238.767m over the corresponding period of the last year, showing an increase of 40.406 per cent; Rs22.811m collected from Jet fuels (JP-1 &4) as against Rs18.294m, an increase of 24.69 per cent; Rs93.458m from Lubricating oils as against Rs59.664m, an increase of 56.64pc.
The CBR raised Rs757.881m from motor spirits during the period against Rs707.168m of last year, indicating an increase of 7.17pc; Rs19.458m from petroleum greases as against Rs13.251 million, an increase of 46.84 per cent and Rs51.449m from solvent oil as against Rs78.590 million, a decrease of 34.53 per cent.
The tax officials raised Rs1030.595m from lube base oil against Rs888.402m over the corresponding months of last year, an increase of 16 per cent; Rs246.311m from premier motor gasoline (87 RON) as against Rs195.927m of the last year, an increase of 25.7 per cent and Rs10.609m from other POL products as against Rs10.708, showing a decrease of 0.92 per cent.
