Government Collects Over Rs. 800 Billion in Petroleum Levy (2024)
The federal government has successfully collected more than Rs. 800 billion through the petroleum levy from January 2024 to September 2024.
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According to data shared by ProPakistani, the breakdown of collections is as follows:
- January-March 2024: Rs. 246.82 billion
- April-June 2024: Rs. 299.63 billion
- July-September 2024: Rs. 261.67 billion This brings the total collection for the first nine months of 2024 to Rs. 808 billion.
With data for October-December yet to be finalized, it is expected that the total collection will exceed Rs. 1 trillion by the end of the year. The government has set a target of Rs. 1.28 trillion in petroleum levy collections for the current fiscal year (FY25).
In the previous fiscal year, the government had already surpassed its target of Rs. 869 billion, reaching a total of Rs. 960 billion.
As part of its fiscal measures, the government increased the maximum petroleum levy limit to Rs. 70 per liter through the finance bill, although it is currently collecting Rs. 60 per liter on both petrol and high-speed diesel.
