Failure to meet petroleum levy target prompts govt to look for alternatives
Fearing failure to meet the petroleum levy target set for July and August, the Ministry of Finance has now started looking for alternative means to enhance the amount collected, reported 24NewsHD TV channel on Friday.
Quoting sources, the TV channel reported that so far there was a shortfall of Rs100 billion due to the failure of the ministry to meet the target.
Only Rs2 billion had been collected under the head of the petroleum levy during the first two months of the new financial year (FY), the sources elaborated.
They further told that the government had reduced the levy on petrol to nil while on High Speed Diesel (HSD) it was Rs2.5 per liter.
Reporter Waqas Azeem