NA to consider stricter enforcement of petroleum levy

Pakistan’s National Assembly is expected to consider a bill requiring oil marketing companies, refineries and other licensees to pay petroleum and climate support levies as a condition of holding their licences. Mettis Global reported that the proposed amendment would make refinery payments due before products leave their facilities, while levies on imported fuel would be collected alongside customs duties.

The bill proposes daily late-payment charges at the higher of 1.5 times the prevailing six-month KIBOR or 12% annually, as well as recovery of unpaid sums through existing tax and customs procedures. OGRA could suspend or cancel licences for non-payment, and offenders could face up to three years in prison and a fine; companies would also have to submit monthly payment statements and an annual audited certificate.