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Govt eyes Rs314b from fuel taxes in budget

Govt eyes Rs314b from fuel taxes in budget

ISLAMABAD: The government, in the new budget for fiscal year 2014-15, has projected Rs314 billion revenue from different fuel taxes including Gas Infrastructure Development Cess (GIDC), Natural Gas Development Surcharge (NGDS) and Petroleum Levy (PL).

As per the budget document, Rs145 billion is estimated to be generated on account of GIDC in 2014-15 against revised estimates of Rs88 billion in the outgoing financial year, Rs46 billion on account of NGDS in the upcoming financial year against revised estimates of Rs39 billion in 2013-14, while the government has estimated a collection of Rs123 billion under PL against revised estimates of Rs108 billion in the outgoing financial year.

In budget 2013-14, the government on account of GIDC set a target of Rs38 billion revenue, which was revised upward to Rs88 billion. On account of NGDS Rs35.339 billion was the target set, which was revised to Rs46.4 billion, and on account of PL in 2013-14 government set target was Rs120 billion, which was revised to Rs108 billion.