The Government has projected collections worth Rs72.9 billion on account of Gas Development Surcharge (GDS) and royalty on oil and gas in the budget of the next financial year 2011-2012 as opposed to last year’s projected receipts of Rs77.49 billion, which is a considerable decrease in one year.
Sources told The Express Tribune that the government has estimated collections worth Rs 15.2 billion through royalty on crude oil, Rs24.9 billion GDS on gas and Rs32.8 billion royalty on natural gas in upcoming financial year budget.
During the current financial year 2010-11, royalty on crude oil was projected at Rs15.5 billion, GDS on gas Rs29.99 billion and royalty on natural gas was estimated at Rs32 billion.
Officials said that the
government might not be able to achieve this diminishing target due to the unstable law-and-order situation in the country that is hampering exploration activities.
Published in The Express Tribune, June 1st, 2011.
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