Petroleum dealers are demanding withdrawal of advance income tax imposed in the budget 2024-25       Motorcyclists filling their fuel tanks at a petrol pump in Hyderabad, on March 1, 2022. — APP

KARACHI: Pakistan Petroleum Dealers Association (PPDA) on Wednesday announced to shut down the petrol pumps on July 5, 2024 after failure of talks between the association and the government.

“We met the government authorities in Islamabad but the talks yielded no results and will go on strike as announced earlier,” Abdul Sami Khan, PPDA Chairman, told The News.

The petroleum dealers are demanding withdrawal of advance income tax imposed in the budget 2024-25.

Abdul Sami Khan warned that this tax would devastate the petrol pump business, which is already struggling with minimal profits and high inflation.

“The additional burden of taxes will destroy our business. There is no other option but to close the business because of this unfair tax,” he asserted.

The PPDA expressed concerns over 0.5 percent advance tax on turnover in the budget and noted that every transaction for the cost of goods sold is already taxed at the time of purchase and is reflected in the books of account of oil marketing companies and dealers. Therefore, PPDA sought the removal of this clause from the Finance Bill and demanded a prompt resolution to this issue.