Government to be deprived of Rs 122 bn revenue

The Supreme Court of Pakistan has suspended carbon surcharge on petroleum products that could result in decrease of Rs 122 billion of revenue. The government has started receiving carbon surcharge from July 1. According to the ministry of petroleum spokesman, the government was expecting to receive additional revenue of Rs 122 billion through carbon surcharge. The government had announced to abolish PDL and imposed carbon surcharge in the budget through which it would receive carbon surcharge of Rs 10 from 1 litre of petrol, Rs 8 from Hi-Speed diesel, Rs 6 from kerosene oil, Rs 3 from light diesel and Rs 14 from Hi-Octane. The petroleum prices are expected to return to pre July 1 level after the SCP decision.