Govt Decides Against Rs. 20 Per Liter Increase in Petroleum Development Levy for 2024-25

The federal government has decided not to increase the petroleum development levy (PDL) by Rs. 20 per liter on MS petrol and High-Speed Diesel (HSD) in the federal budget 2024-25. Finance Minister Muhammad Aurangzeb in his concluding speech on budget amendments said the government has withdrawn the proposal to hike PDL to Rs. 80 per liter on petrol and HSD. Instead, the levy will be increased by Rs. 10 to Rs. 70 per liter next fiscal year. He also said the government was committed to promoting green energy and as part of this initiative, no duty will be imposed on solar panels. It is pertinent to mention here that currently, the government is charging Rs. 60 per liter petroleum levy on petrol and high-speed diesel. A levy of Rs. 50 per liter will be charged on Kerosene and light diesel oil. High octane petrol will see a levy of Rs. 70 per liter, while the per liter cost of e-ton petrol will include a Rs. 50 per liter levy. A levy of Rs. 30,000 per metric ton will be imposed on LPG.