ISLAMABAD: The Petroleum, Oil, and Lubricants (POL) sector emerged as the top contributor to Pakistan’s Customs Duty collection in FY 2024-25, underscoring the country’s continued dependence on imported petroleum products.
According to the latest data released by the Federal Board of Revenue (FBR), Customs Duty collection rose sharply to Rs 1,284.6 billion during FY 2024-25, up from Rs 1,104.1 billion in the previous fiscal year—marking a 16.4 percent increase. Customs Duty accounted for 10.9 percent of FBR’s total revenue collection, achieving 95.2 percent of the annual target.
The POL sector contributed 22.7 percent of the total Customs Duty, though it recorded a 9.1 percent decline in year-on-year collection. The vehicle sector followed as the second-largest contributor with a 13.4 percent share, driving a 41.1 percent increase in overall Customs receipts.
FBR noted that Customs Duty is applicable only on dutiable goods, with growth in duty collection closely reflecting the rising value of imports. Overall, the Customs Duty collection witnessed a 16.7 percent increase during FY 2024-25, reflecting improved trade activity and import valuations.
Story by Sohail Sarfaraz
