Wow we have oil traders and economist.... Feels like i am at work! I think the link you have posted explains my point. The calculation however starts with the ex refinery prices i think but the amount of taxes are clearly mentioned.
@Mani i work @ HBL asset management. We have around 6 billion in Fixed income and money market funds and around 3 billion in Islamic equity, Balanced & stock fund. We also provide investment advisory services for some pension funds. I am responsible for managing the 6 billion.
Pakistan is a poor country with a per capita income of just $1000. Passing on such a heavy burden of taxes to the consumers is not justified. A little fiscal discipline could have easily saved us from opting the IMF package.
When the privatization inflows & remittances for pouring in, we did not need to import luxury cars and phones. Cars that we did not have fuel for, so we opted for gas putting an enormous load on our gas reserves and suppliers. The gas that was needed for industries not to mention the billions we spent on importing CNG kits & dispensing setups. The remaining were spent on importing split ACs and motor bikes from China. Everyone bought an AC while nothing was done to improve the power generation. When the loadshedding periods increased people starting purchasing cheap generators from imported from China and India, some purchased diesel and petrol to run them while other simply hooked them up to the already dieing SSGC, SNGP gas lines. Why didnt we focus on improving our LSM growth? Why did we just handed every one a credit card and a suzuki mehran for 5000/mo while a circular railway infrastructure, a few dams and schools were the most obvious choices.
I was new in the market back then but even i could see the economy heading towards a wall at a very high speed. It was obvious because there wasnt much left to sell as we had already sold the only profitable PTCL for dimes while its share was jumping up and down in excitement driven by speculators.
The truth is no one has ever been sincere with this country. No politicians and No generals ever cared about the long term benefit of this country. When prices rise by over 50% in 2 years causes frustration among the population and crime rates are bound to surge.
I am sorry i went off the topic but as per my knowledge taxes will rise further this year and they will continue to rise since we will be soon be opting for another IMF program to pay off the current one. Its only a matter of time when the water hits the currently privilege ones to make them realize how hard is paying taxes to all the dacoits we have sitting in the p.houses.