Malawi collects K5.2bn in fuel levies

Government collected about K5.2 billion (about $13m) through fuel levies in the first quarter (Q1) [July to September] of this fiscal year, beating its target for the period by about K884 million (about $2.2m).

The latest Q1 budget performance report prepared by the Ministry of Finance indicates that government collected about K2.5 billion through road levies, K2.2 billion from rural electrification and K361 million through storage levy.

According to the report, non-tax revenue in Q1 amounted to K9.5 billion compared to a target of K8.9 billion, leading to about K678.3 million overperformances, attributed to fuel levy receipts.

The report further notes that revenue performance in some revenue components, especially departmental receipts is far less than optimal than the preceding financial year.

Government urged ministries and departments to continue priotising activities that generate revenues.

The 2013/14 budget statement shows that domestic revenues are projected at K363.1 billion, representing 60 percent of total revenue and grants while K240.3 billion are donor grants, representing 40 percent of total revenue and grants.

Tax revenues are projected at K328.1 billion while the non-tax revenues are estimated at K35 billion.