ISLAMABAD: The petroleum, oil and lubricants (POL) sector remained the largest contributor to Customs Duty during 2024-25, reflecting heavy reliance on imported petroleum imports.
According to the Federal Board of Revenue (FBR) data for 2024-25, the Customs Duty collection experienced a significant improvement during FY 2024-25 compared to the previous financial year.
The net collection for FY 2024-25 amounted to Rs. 1,284.6 billion, up from Rs. 1,104.1 billion in the prior financial year witnessing a 16.4 percent growth.
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Customs duty contributed approximately 10.9 percent in the total revenue collection by FBR during current financial year. The Customs Duty target for the year was achieved to the extent of 95.2 percent of the given target.
The petroleum, oil, and lubricants (POL) sector remained the largest contributor to Customs Duty, accounting for 22.7 percent of the total, but with a negative growth of 9.1 percent in collection during FY 2024-25. Vehicles were the second largest contributor, with a 13.4 percent share and a significant contribution of 41.1 percent to the increase in collection.
Data further revealed that the customs duty is levied only on the dutiable goods. The collection of Customs Duty on major items aligns closely with the growth in the value of these imports. The Customs Duty collection witnessed 16.7 percent growth, which amounted to Rs 1,284.6 billion, FBR added.
Copyright Business Recorder, 2025
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