ISLAMABAD: The upcoming federal budget for 2025-26 is projected to see an increase in the petroleum levy, which is likely to place additional financial pressure on the public.
According to the sources, the government has set a target to collect Rs. 1,311 billion in petroleum levies for the next fiscal year, marking an increase of Rs. 194 billion compared to the current year.
This increase in revenue has been made to reassure the International Monetary Fund (IMF) and secure their cooperation for economic reforms.
During the current fiscal year, from July to March, petroleum levy collections amounted to approximately Rs. 833.84 billion, compared to Rs. 1,019 billion in 2023-24 and Rs. 580 billion in 2022-23.
Notably, the rates of levies on petrol and diesel are at historic highs, with consumers being charged Rs. 78.02 per liter in petroleum levy on petrol and Rs. 77.01 per liter on high-speed diesel.
These factors indicate that, consumers are likely to bear the brunt of additional costs on petroleum products in the upcoming fiscal year, raising concerns over increased financial burdens on the public.
