How much profit does the government make on 1 litre of petrol?
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According to Muzammil Aslam, in the past, the PTI government imposed zero taxes on petroleum products, but now they are collecting 100 rupees in taxes per liter of oil.
He revealed that the PTI had obtained approval from the IMF to keep sales tax on petroleum products at zero. Sales tax on petroleum products had been reduced to zero for almost 3 years.
In conversation with ARY News, Muzammil Aslam disclosed that the government is currently collecting 100 rupees in taxes on one liter of oil. He mentioned that the PTI had zeroed sales tax on petroleum product prices.
After PTI's departure, the first to apply a 30 rupee PDV levy was Miftah Ismail. Muzammil Aslam stated that they had received approval from the IMF to maintain zero sales tax on oil prices. Due to the depreciation of the rupee, there has been an increase in oil prices. Economic experts have stated that global oil prices are around $93 per barrel.
In the PTI era, oil prices in the global market were above $100. Currently, 100 rupees per liter from oil prices are going into the government's pocket. They also revealed that to meet the tax target, last year PDV was raised to 50 rupees, despite this, the tax target was not achieved.
Due to the government's failure to meet the tax collection, PDV has now been increased to 60 rupees. Even now, tax targets are being met through oil prices.
