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Multan Customs collects Rs14625.89m through PDL during FY 2017-18

Multan Customs collects Rs14625.89m through PDL during FY 2017-18

MULTAN: The Customs Collectorate collected Rs14625.89 million in wake of Petroleum Development Levy during the entire economic year 2017-18.

The Petroleum Development Levy is a federal tax and is collected by customs department on the clearance of High Speed Diesel from Collectorate.

The Collectorate of Multan Customs receives 98 percent of its revenue collection through the clearance of High Speed Diesel (HSD) and other petroleum products from the PARCO oil refinery located in Mehmood Kot.

The Collectorate collected Petroleum Development Levy from oil marketing companies on the clearance of ex-bonding of High Speed Diesel from the Multan Dry Port.

The Petroleum Development Levy is dutiable on petroleum products according to their proportionate PDL rate imposed by the Oil and Gas Regulatory Authority Ordinance (OGRA).

The Collectorate deposited Petroleum Development Levy into the account of the Oil and Gas Regulatory Authority after the deduction of their import duties and necessary taxes.

Multan Collectorate was able to collect Rs13277.14 million during corresponding economic year 2016-17 and the Petroleum Development levy collection has been enhanced in the Collectorate during fiscal year 2017-18.

Multan Customs witnessed almost 10.16 Percent growth in the Petroleum Development levy during whole fiscal year of 2017-18.

The Collectorate charged the rate of PDL for sales through retail outlets under the prescribed rate of OGRA for direct sales.

It is also important to mention here that the High Speed Diesel is one of the major import components of the Collectorate and it contains almost 98 % import products of HSD cleared from the Multan Dry Port through ex-bond.