MULTAN: The Model Customs Collectorate Multan took a high jump in the revenue collection of Petroleum Development Levy during the month of March.
The Multan Customs 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 Model Customs Collectorate Multan deposited Petroleum Development Levy into the account of the Ministry of Oil and Gas Regulatory Authority after the deduction of their import duties and necessary taxes.
The Customs Collectorate charged the rate of PDL for sales through retail outlets under the prescribed rate of OGRA for direct sales. The Multan Customs has collected Rs1203.035million of Petroleum Development Levy in the month of March for the current economic year 2017-18 and made a collection of almost Rs9281.120million of Petroleum Development Levy in the corresponding year of 2016-17.
The Multan Customs has posted a growth of 22.82 % in the Petroleum Development Levy for the period of March due to excess clearance of High Speed Diesel consignments from the Multan Dry Port. It is also important to mention here that the High Speed Diesel is one of the major import components of the Multan Customs Collectorate and it contains almost 98 % import products of HSD cleared from the Multan Dry Port through ex-bond.
