Govt achieves petroleum levy tax target for FY24

MG News | June 05, 2024 at 01:18 PM GMT+05:00

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June 05, 2024 (MLN): The government has achieved the petroleum levy tax collection target for the fiscal year 2023-2024 within the first eleven months.

The set target for current fiscal year was Rs869 billion, with the government collection likely to have reached Rs902bn in 11MFY24.

With June's revenue collection, the end-year collected is expected to be around Rs1 trillion.

To note, the Federal Board of Revenue (FBR) has collected a total revenue of Rs8.12tr in 11MFY24.

The total revenue collection witnessed a growth of 30.8% compared with the collection of Rs6.21tr in 10MFY23.

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