Officers assigned in Multan Region to counter smuggling of petroleum products

LAHORE: MCC Preventive Multan has assigned officers with special tasks for the purpose of carrying out counter smuggling operation against illegal petroleum products. As per the Prime Minister’s directives to eradicate the menace of smuggling, of petrol and diesel, which was one of the factors that FBR missed its revenue… Continue reading

Ministry of Petroleum to fully utilize Railways’ capacity for petroleum products transportation across country

ISLAMABAD: Ministry of Railways and Ministry of Petroleum have jointly initiated assessment of the prospects of petroleum products through railways across country.[the_ad id=”31605″]The Ministry of Petroleum briefed the Economic Coordination Committee ECC on the implementation of the committee’s decision regarding utilization of services of Pakistan Railways for transportation of petroleum… Continue reading

Joint Committee formed to check smuggling of petroleum products

KARACHI: The Federal Board of Revenue (FBR) has formed a committee comprising officers of both Inland Revenue and Customs to curb smuggling of petroleum products, which has been causing irreparable loss to the national economy.[the_ad id=”31605″]According to a goods transport association, almost 200,000 to 500,000 litres of oil is being… Continue reading

Petroleum products prices increased by upto Rs4.75/litre

KARACHI: The government has increased the prices of petroleum products, in the range of Rs2.5 to Rs4.75 per litre for the month of March 2019. The price of Motor Spirit (Petrol) 92-RON is raised by Rs2.5 to Rs92.88/litre. Price of High Speed Diesel (HSD) is increased by Rs4.75 to Rs111.43/lire…. Continue reading

Petroleum products sales decline 29 percent in July-January of 2018/19

KARACHI: Pakistan’s both black and white oil volumetric sales declined during seven months (July-January 2018-19) with overall sales volumes of oil marketing companies (OMC) clocking-in at 10.70 million tons as compared to 14.97 million tons sold in the corresponding period last year, exhibiting a hefty decline of 29 percent, according… Continue reading

Sales tax on petroleum products reduced

KARACHI: The government has reduced sales tax rates on petroleum products to keep the end consumer prices unchanged during the month of June 2016. The rate of sales tax on high speed diesel is reduced to Rs18.47/liter from Rs25.16/liter earlier. Sales tax at the rate of RS5.58/liter will be applicable… Continue reading

Anti Smuggling Organization foils bid to smuggle diesel

KARACHI:The staff of Anti Smuggling Organization (ASO) of Model Customs Collectorate (MCC) Hyderabad foiled a bid to smuggle 25,000 litres High Speed Diesel (HSD) from Quetta to interior Sindh. The commodity and the tanker were also impounded. According to a FIR, Additional Collector Omar Shafiq was tipped that diesel would… Continue reading

Government increases sales tax on import, supply of petroleum products

KARACHI: The Federal Government has revised the rate of sales tax on import and supplies of petroleum products with effect from August 01, 2015. According to SRO 720(I)/2015, sales tax at the rate of 20 percent ad valorem will be applicable on import and supply of (petrol) i.e. motor spirit… Continue reading