Govt Aims to Collect Rs. 1.6 Trillion From Petroleum Levy in FY27

For context, the federal administration has set a target of Rs.

Key points

• Minister for Energy (Petroleum Division) Ali Pervaiz Malik informed the National Assembly in a written response that the levy.
• Add ProPakistani to Preferred Sources and see more of our stories in Google Search and Top Stories.
• 13.36 per liter between July 1 and August 20.
• Add as a preferredSource on Google Follow on Google News Join WhatsApp.
• The minister remarked the Petroleum Division had not carried out a separate assessment of the levy's impact on specific categories of consumers.

For context, the federal administration has set a target of Rs. 1.676 trillion in petroleum levy receipts for FY27, based on an average levy of Rs. 80 per liter on petrol and High Speed Diesel (HSD).

Minister for Energy (Petroleum Division) Ali Pervaiz Malik informed the National Assembly in a written response that the levy. It was reduced during a period of volatility in international oil markets to provide relief to consumers, is being restored in phases in line with the approved budget target.

For context, the levy on petrol and HSD underwent a number of revisions after the start of the current fiscal year. On July 1, the levy stood at Rs. 66.64 per liter on petrol and Rs. 79.54 on HSD. It was revised to Rs. 64.14 and Rs. 77.04, respectively, on July 2, before being changed to Rs. 70.36 on petrol and Rs. 70.82 on HSD on July 4. PM Shehbaz Unhappy With Independence Day Buggy Drama.

In practice, the petrol levy reached the budgeted level of Rs. While the HSD levy was gradually rose in August, 80 per liter on July 11. It reached Rs. 78.28 per liter on August 14, before rising to Rs. 80 per liter for both petrol and HSD by August 20.

Overall, the levy on petrol rose by Rs. 13.36 per liter between July 1 and August 20.

Notably, the minister remarked the Petroleum Division had not carried out a separate assessment of the levy's impact on specific categories of consumers. He continued that petroleum levy collection targets were part of the approved federal budget and linked to fiscal commitments produced with international financial institutions.

Responding to questions regarding reducing the levy to provide relief to consumers, Malik stated any reduction would depend on available fiscal space, commitments with international financial institutions, revenue requirements and international oil market conditions.

Notably, the minister continued that the administration passes on the benefit of declining international oil rates to consumers whenever feasible, suggesting that any future reduction in domestic fuel rates would depend on global oil costs and the government's fiscal position. Stay Connected with ProPakistani.

Obtain the latest business news, market insights, and economic updates wherever you prefer. Follow on Google Discover.

In short, govt Aims to Collect Rs. 1.6 Trillion From Petroleum Levy in FY27 is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.