MULTAN: Federal Board of Revenue Chairman Tariq Bajwa Thursday constituted a special committee to analyse the decrease in import of oil in the country and its collected revenue.
The FBR is going to a hold meeting along with Collector Customs Multan about oil revenue after revealing the fact that consumption of local oil is increasing day by day and the import of oil is decreasing due to increase in domestic oil production.
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The committee will discuss the import of oil and their collected revenues through collection of customs duty and to check the fact that why customs duty of imported oil is falling down.
Collector Sarfraz Ahmad Warraich has been designated as a focal person of oil industry and will chair the meeting along with other members of the FBR. The Committee has decided to ask collector Port Qasim, Chief Commissioner’s large tax payers units and oil refineries to give comprehensive report about the oil import and production data. The step is being taken to evaluate the reduction of oil import and its custom duty while local oil dependency is increasing as compared to imported oil.
