KARACHI: Federal budget for the fiscal year 2024-25 has increased the maximum rate of petroleum to Rs 80 per liter on various petroleum products.
Government has raised the petroleum levy on high-speed diesel oil to a maximum rate of Rs 80 per liter, with a minimum rate set at Rs 60 per liter. This adjustment reflects the government’s efforts to generate additional revenue while maintaining a balanced approach to pricing.
Similarly, the maximum petroleum levy on petrol has been set at Rs 80 per liter, with a minimum rate of Rs 60 per liter. These changes are designed to standardize the taxation framework across different types of fuel, ensuring a more consistent revenue stream from the petroleum sector.
For kerosene oil, the petroleum levy has been established at Rs 50 per liter for the upcoming fiscal year. This rate aims to balance the need for revenue with the affordability of kerosene, which is widely used in various domestic applications, especially in rural areas.
Meanwhile, the petroleum levy on light diesel oil has been set at a maximum value of Rs 75 per liter, with a minimum rate of Rs 50 per liter. This measure is part of the broader strategy to align the taxation of different fuel types while considering their respective market demands and consumption patterns.