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Multan Customs collects Rs869.541m petroleum development levy in September

Multan Customs collects Rs869.541m petroleum development levy in September

MULTAN: Collectorate of Customs has collected Rs869.541 million under the head of petroleum development levy during the month of September.

Sources told Customs Today, Multan Customs collected petroleum development levy from oil marketing companies on the clearance of ex-bonding of high speed diesel (HSD) shipments from Multan Dry Port.

Petroleum development levy is levied by federal government on the oil marketing companies for clearance of high speed diesel and Multan Customs collected petroleum development levy on the clearance of High Speed Diesel (HSD).

Multan Customs generated petroleum development levy of Rs869.541 million from clearance of high speed diesel in the month of September. While Multan Customs collected petroleum development levy of worth Rs2551.308 million from the clearance of high speed diesel in the corresponding month of fiscal year 2017-18.

The Collectorate has observed a decline in the collection of petroleum development levy during the third of month of current fiscal year due to less clearance of petroleum development levy in the jurisdiction.

Multan Customs imports comprised of 98 percent of its clearance of High Speed Diesel and other petroleum products from the PARCO oil refinery. It collects major portion of revenue of the Collectorate through import clearances of High Speed Diesel from Multan Collectorate.