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Tag: Pakistan State Oil (PSO)

IPPs
Business
  • Web Desk
  • Oct 22, 2024
PSO forgoes late payment charges for five IPPs amid power sector reforms

The government estimates that terminating these five IPPs will save around Rs 411.16 billion in future payments.

The government issued a notification abolishing the 0.5 per cent advanced withholding tax imposed on petrol pumps from July 1, as outlined in the Finance Bill 2024.
Pakistan
  • Web Desk
  • Jul 06, 2024
Government abolishes advance income tax on petrol pumps

Petrol pumps were previously subject to a 12.5 per cent withholding tax on their margins. The recent decision to eliminate the advanced income tax was aimed at simplifying the tax structure for petrol pump operators.

PSO
Business
  • Web Desk
  • Apr 29, 2024
PSO cancels imports of 400,000 metric tonnes of diesel as demand declines

Various factors, including delays in the agricultural season, unseasonal rains, and decreased industrial activity, have contributed to the notable drop in diesel demand, which has plummeted by approximately 30 per cent compared to previous year.

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