First five months of fiscal year 2009: sales tax collection increased by 267.4 percent

The domestic Sales Tax collection during the first five months of FY09 has increased massively by 267.4 per cent despite massive cut in the world oil prices. The sales tax collection from POL products has surged to Rs 46.7 billion from July-November FY09 as against a paltry collection of Rs 12.70 billion sales tax from this sector during the corresponding period of FY08.
The total share of POL in sales tax stands around 49.7 per cent. This ratio was 20.8 per cent. The other major contributors that have shown significant growth are natural gas and electrical energy Rs 6.10 billion and Rs 2.5 billion is the amount generated by these two sectors respectively.
The natural gas shows growth up to 20.3 pc in sales tax while Rs 5.1 billion was collected during the same period last year. There is a sharp growth in sales tax collection that has been witnessed in the electrical energy sector, as it shows 188.8 pc growth in July-November FY 09.