ISLAMABAD: The government has projected to surpass the Petroleum Levy (PL) from budgetary estimates of Rs869 billion for fiscal year 2023-24.

The IMF report released on Saturday pointed out that Pakistan has projected PL collection of Rs918 billion, 49 billion more than budgetary target of Rs869 billion in the current fiscal year.

Non-tax revenues witnessed a substantial increase of 124 percent (YoY) as the petroleum levy collection exceeded projections by Rs22 billion, despite the significant drop in consumption in September, the report pointed out.

In last fiscal year 2022-23, the government succeeded in collecting Rs580 billion against budgetary estimates of Rs542 billion PL.

Copyright Business Recorder, 2024