Govt Collected Rs. 808 Billion as Petroleum Levy in First 9 Months of 2024

The federal government has collected over Rs. 800 billion through the petroleum levy from January 2024 till September 2024. According to figures obtained by ProPakistani, the government collected Rs. 246.82 billion during January-March 2024, the collection during April-June 2024 stood at Rs. 299.63 billion while that of July-September 2024 came in at Rs. 261.67 billion, taking the collection for the nine-month period to Rs. 808 billion. With data from October-December yet to be finalized, the collection is set to exceed Rs. 1 trillion by the end of the year. However, it is pertinent to highlight that the government has set a target to collect Rs. 1.28 trillion through the petroleum levy during the current fiscal year (FY25). During the last fiscal year, the government surpassed the petroleum levy collection target of Rs. 869 billion as collection came in at Rs. 960 billion. Through the finance bill, the government raised the maximum limit of petroleum levy to Rs. 70 per liter. However, currently, the government is collecting Rs. 60 per liter as petroleum levy on both petrol and high-speed diesel.