Under the revised fiscal framework, the IMF has prepared a strategy to bridge the gap of revenues through not fully passing on benefits of decreased POL prices into the international market with consumers. It is now projected that the petroleum levy will go up by PKR 60Bn in next budget FY21 as there were earlier projection to fetch PKR 429Bn into pre-COVID-19 scenario but now the IMF jacked up petroleum levy projection to PKR 489Bn because of FBR’s inability to generate desired revenues and for meeting pressing fiscal requirements.
20/4/2020