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Baner Club > Blog > Business > Duty on gasoline imports ordered for six oil companies
BusinessPakistan

Duty on gasoline imports ordered for six oil companies

A customs appellate tribunal has upheld the recovery of a 10 per cent regulatory duty, amounting to billions of rupees, from six oil companies on the import of petrol (motor spirit) in 2022.

Last updated: 2024/07/24 at 6:21 PM
Published July 24, 2024
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Allowing departmental appeals against a collector customs decision (appeals) in favor of the oil importers, such as Hascol Petroleum Ltd., Gas & Oil Pakistan Ltd., Taj Gasoline Ltd., My Petroleum (Pvt) Ltd., Puma Energy Pakistan Ltd., and Euro Oil (Pvt) Ltd., was decided by the two-member tribunal.

The oil corporations asserted their entitlement to the June 20, 2022, SRO 806(1)/2022 exemption from the regulatory duties. The federal government placed a 10 percent levy on gasoline imports through the same SRO, with the exception that regulatory duties would not be applied to cargoes for which LCs had already been opened or were at sea. As a result, the enterprises were not able to receive the benefit that they had claimed.

Petroleum imports that have paid a 10 percent customs fee will not be subject to the regulatory duty.

The program had a time limit and was in place until June 30, 2022. On July 1, a newly issued SRO 966(1)/2022 took effect, ending the program.

After the exemption was refused, the oil importers, however, petitioned the Sindh High Court to expand the benefit to include gasoline and other imported items.

The SHC secured the disputed sum through pay orders or bank guarantees, thereby allowing the import goods to be released provisionally. In its ultimate ruling, the supreme court later dismissed the applications.

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admin July 24, 2024 July 24, 2024
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