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Multan Customs collects Rs.7870m PD levy in the first six months of FY2017-18

Multan Customs collects Rs.7870m PD levy in the first six months of FY2017-18

MULTAN: The Model of Customs Collectorate has witnessed handsome jump in the revenue collection of Petroleum Development Levy during the first six months of the current fiscal year 2017-18.

According to the details, Multan Customs collected Petroleum Development levy from oil marketing Companies on the clearance of ex-bonding of High Speed Deisel from Multan Dry Port. Petroleum Development levy is dutiable on petroleum products according to their proportionate PDL rate imposed by Oil and Gas Regulatory Authority Ordinance.

The Model of Customs Collectorate Multan collected Petroleum Development Levy from Oil Marketing Companies and deposited Petroleum Development Levy to Ministry of Oil and Gas Regulatory Authority after deduction of their import duties and necessary taxes.

The Customs Collectorate charged the rate of PDL for sales through retail outlets under prescribed rate of OGRA for direct sales. Multan Customs has collected Rs.7870 million Petroleum Development levy in the first six months of the current economic year 2017-18 which is almost Rs749.393 million excess collection than corresponding year 2017-18. Although Multan Customs was able to collect Rs6120.607 million under the head of Petroleum Development Levy during previous fiscal year 2017-18.