Government seeks to generate Rs 330 billion through fuel taxes


 

 

 

 

 

 

 

 

The government has budgeted Rs 330 billion revenue generation from fuel taxes excluding General Sales Tax (GST), which is 0.083 percent of the total Rs 3956.1 trillion estimated tax revenue in 2016-17 budget.

The government has estimated Rs 145 billion revenue generation from Gas Infrastructure Development Cess (GIDC), Rs 35 billion from Natural Gas Development Surcharge (NGDS) and Rs 150 billion Petroleum Levy (PL).

As per the budget in brief, in outgoing year the government had projected Rs 145 billion on account of GIDC, Rs 30 billion on account of NGDS which was revised upward to Rs 32 billion, while the government estimated Rs 135 billion collection on account of PL and for the upcoming financial year it has further increased the estimate to Rs 150 billion. -Business Recorder

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