Islamabad, Dec 26: The federal government has successfully collected over Rs. 800 billion in petroleum levy between January and September 2024, according to figures obtained by ProPakistani. During the first quarter (January-March 2024), the government collected Rs. 246.82 billion.
This was followed by Rs. 299.63 billion in the second quarter (April-June 2024), and Rs. 261.67 billion in the third quarter (July-September 2024), bringing the total collection for the nine months to Rs. 808 billion.
With data for the October-December 2024 period yet to be finalized, the government’s petroleum levy collection is expected to exceed Rs. 1 trillion by the end of the year. However, the government has set a higher target of Rs. 1.28 trillion in petroleum levy collection for the current fiscal year (FY25).
In the previous fiscal year, the government had surpassed its target of Rs. 869 billion by collecting Rs. 960 billion. The government also raised the maximum limit of the petroleum levy to Rs. 70 per liter through the finance bill. Currently, the government is collecting Rs. 60 per liter as the petroleum levy on both petrol and high-speed diesel.
