Tag: Duty

  • Govt increases levy on petrol to Rs55 per litre, maintains Rs50 levy on diesel

    Govt increases levy on petrol to Rs55 per litre, maintains Rs50 levy on diesel

    In a recent development, the government has decided to raise the petroleum development levy (PDL) on petrol in accordance with a staff-level agreement worth $3 billion signed with the International Monetary Fund (IMF).

    Starting from today, the PDL on petrol will be increased from Rs50 to Rs55 per litre, while there will be no change in the development levy on high-speed diesel (HSD), which remains at Rs50 per litre.

    The announcement was made by Finance Minister Ishaq Dar, who clarified that petrol prices would not be affected by this decision. However, diesel prices will see an increase of Rs7.50 for the next two weeks, with the new price becoming effective from July 1.

    Minister Dar emphasised this during a late-night press conference, ensuring that there would be no change in the price of petrol.

    To enable this adjustment, the government sought the power to amend the Petroleum Products (Petroleum Levy) Ordinance, 1961 (XXV of 1961) through the Finance Act 2023-24. This amendment grants the government the authority to increase the petroleum levy, eliminating the requirement for parliamentary approval to determine the maximum limit of the levy.

    According to The News, the Ministry of Finance shared with the Senate Standing Committee on Finance that the PDL has been set at Rs60 per litre, aiming to generate revenue of Rs879 billion in the upcoming fiscal year. This target surpasses the revised target of Rs542 billion for the previous financial year, which concluded on June 30, 2023.

  • Here’s how to use a SIM in a non-PTA approved phone

    Here’s how to use a SIM in a non-PTA approved phone

    Owing to import limitations and costly PTA approval fees, consumers are forced to choose non-PTA mobile phones as smartphone prices have increased dramatically in Pakistan.

    PTA approval for phones was not an idea back then, and Pakistanis could purchase any phone they wanted without any hassles. But now, it’s all different.

    A phone may use any SIM card for two months after it is imported into Pakistan, after which the PTA will disable the device. Due to store owners’ lack of concern for investing additional funds for PTA clearance and their decision to leave it up to customers whether they wish to pay the high cost of PTA approval for using a SIM, Pakistani mobile marketplaces are currently overrun with non-PTA phones.

    People use a different phone to keep their sim active because the sim on these phones stops working after the two-month period. Few individuals are aware that non-PTA phones still support SIM cards.

    Users can purchase a SIM card of a mobile network called SCOM and activate their number.

    For those who don’t know, SCO introduced the first GSM mobile services under the name SCOM in Azad Jammu Kashmir and Gilgit Baltistan in 2004.

    Read more: Latest government jobs in Pakistan

    In over 450 major cities, towns, and villages in Azad Jammu & Kashmir and Gilgit Baltistan, SCOM offers the area’s largest network coverage with an equal footprint in rural and urban terrain, but it may also be utilised across the entire nation.

    However, there is one disadvantage for residents of other parts of Punjab because SCOM SIM is not offered everywhere. There are many people selling SCOM connections online, so you can search OLX or visit SCOM’s official website to order a sim online.

    People purchase non-PTA phones, such as iPhones and other flagship models from Samsung, One Plus, Sony, Xiaomi, and other manufacturers, since PTA-approved phones are now quite expensive. People are forced to carry an additional phone to keep their sim active because the sim on these unapproved phones stops working after the two-month period.

    It is important to keep in mind that although these phones may appear to be less expensive at the time of purchase, adding the PTA approval charge makes them way more expensive.

  • Direct taxes target predicted at Rs2,560 billion for FY 22-23

    In an attempt to meet the Federal Board of Revenue’s (FBR) revenue collection target of Rs7,255 billion for the upcoming fiscal year, the direct taxes target has been predicted at Rs2,560 billion, up from Rs2,182 billion in 2021-22.

    According to Brecorder, the indirect taxes (net) estimates were predicted at Rs4,695 billion in the macroeconomic framework for 2022-23. Direct taxes forecasts included income tax and withholding taxes, whereas indirect taxes projections included sales tax, customs duty, and Federal Excise Duty (FED).

    The indirect tax goal for 2022-23 has been set at Rs4,695 billion, up from Rs3,647 billion in 2021-22, representing a Rs1,048 billion rise. The indirect tax revenue for the fiscal year 2021-22 was Rs3,440 billion.

    The entire collection of indirect taxes in 2020-21 was Rs3,008.2 billion. Direct taxes are expected to reach Rs2,560 billion in the next fiscal year, up from Rs2,182 billion in 2021-22, a Rs378 billion increase.

    Read more: PM Shehbaz directs to eliminate taxes on raw materials used by export industries

    During the first 11 months of the current fiscal, the FBR collected roughly Rs1.9 trillion in direct taxes. In the fiscal year 2020-21, direct tax collections totalled Rs1,726.0 billion. Withholding taxes account for 72 per cent of the total direct tax collection.

  • WATCH: PM Khan lauds cop for saving man’s life from train

    WATCH: PM Khan lauds cop for saving man’s life from train

    Prime Minister Imran Khan on Thursday praised the effort of a brave policeman for saving a man who fell dangerously close on the platform as a train passes through a railway station.

    PM Khan took to Twitter and wrote, “This is where duty becomes sacred. Admiration for the commitment of the young policeman to serve the people.”

    In another tweet, PM Khan announced that Constable Jamal Kalhoro will be honoured on Pakistan Day March 23 for his dedication to duty.

    In June, PM Imran heaped praise on a head constable of Islamabad Traffic Police (ITP) Qaiser Shakeel, who returned to work only two days after an on-duty injury, resulting in a fracture to his arm.

    “Such actions uplift the image of the police when one man decides to serve the people with dedication, and that is why I especially called you to the PM Office,” the premier said as he spoke to Shakeel.

    A former police official died earlier this month while trying to save a child from being crushed by a train in Lahore.

    According to details shared by Superintendent of Police (SP) City Lahore Hassan Jahangir, the former sub-inspector Siddique, who retired from service last year, lost his life at a railway track while saving a child.

    “The child was playing at a railway crossing and was about to be hit by a train when Siddique rescued him and in the entire process lost his life after being crushed by the train,” the police official said.