Government has significantly reduced the petroleum development levy on petrol while increasing the levy on high speed diesel, lowering the average levy on both fuels to below Rs. 80 per liter.
According to Petroleum Division sources, the levy on petrol was cut by Rs. 40.49 per liter to Rs. 66.25 per liter from Rs. 106.74 per liter. In contrast, the levy on diesel was increased by Rs. 19.71 per liter to Rs. 72.97 per liter from Rs. 53.26 per liter.
Officials said the adjustment was made after the government achieved its petroleum levy collection target for the current fiscal year. Combined levy collections on petrol and diesel now amount to Rs. 139.22 per liter, bringing the average levy on the two products below Rs. 80 per liter.
Petroleum levy collections have become one of the government’s largest non tax revenue sources in recent years, helping support budgetary targets agreed with the International Monetary Fund. The federal government has increasingly relied on adjustments in the levy to manage fuel prices while maintaining revenue flows.
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