ISLAMABAD – Prices of all petroleum products in Pakistan are expected to decrease by up to Rs6.30 per litre from Sunday, December 1, for the next fortnight ending December 15, owing to slight fluctuations in international oil markets, informed sources said. The reduction will provide relief to households and businesses after months of steady increases. […]
petroleum levy
Pakistan collects Rs110bn extra in petroleum levy in Q1
ISLAMABAD – Pakistan’s government collected an additional Rs110 billion in petroleum levy during the July–September quarter, according to official documents from the Ministry of Finance. The total collection under the petroleum levy reached Rs371 billion, up from Rs261 billion during the same period last year, marking a 42.12% year-on-year increase. The report shows that the […]
Pakistan posts rare fiscal surplus amid strong SBP profits
ISLAMABAD: Pakistan reported a rare fiscal surplus of 1.6% of GDP in the first quarter of the current fiscal year, driven by record interest income from the State Bank of Pakistan (SBP), a 30% increase in petroleum levy collection, and strong provincial cash surpluses. The surplus amounted to Rs2.12 trillion, up 10% from Rs1.896 trillion […]
Govt hikes petrol, diesel prices amid global oil fluctuations
ISLAMABAD: The federal government has announced an increase in petrol and diesel prices, effective from November 1 to November 15, 2025, according to an official notification issued on Thursday. As per the notification, the price of petrol has been raised by Rs2.43 per litre, setting the new rate at Rs265.45 per litre. Meanwhile, high-speed diesel […]
Petrol prices likely to rise by up to Rs2.43 per litre from November 1
ISLAMABAD: Petroleum product prices are expected to rise from November 1, with an anticipated increase of up to Rs2.43 per litre, ARY News reported, citing industry sources. The Oil and Gas Regulatory Authority (OGRA) has prepared its initial fortnightly pricing summary for petroleum products. According to sources, petrol prices may increase by Rs1.48 per litre, […]
Govt adds Rs 2.50 levy on petrol and diesel
The federal government increased the petroleum levy on petrol and high-speed diesel by Rs 2.50 per liter. This hike raises the levy on petrol from Rs 75.52 to Rs 78.02 per liter. Meanwhile, the levy on high-speed diesel went up from Rs 74.51 to Rs 77.01 per liter. Due to this increase, relief from recent […]
Government denies fuel price relief as levy soars to Rs80
The government of Prime Minister Shehbaz Sharif has stopped a potential fuel price reduction. Officials confirmed that by amending the Petroleum Products (Petroleum Levy) Ordinance 1961, they blocked a decrease of about Rs10 per litre. As a result, the petroleum levy on petrol and diesel has now increased to Rs80 per litre. Previously, the government […]
Petroleum levy currently at the lowest level in six years, says Shahbaz Gill
ISLAMABAD: Special Assistant to the Prime Minister on Political Communication, Dr Shahbaz Gill Saturday said that the petroleum levy is currently at its lowest level in six years. Responding to a statement of PML-N leader Shehbaz Sharif, he said, at present, petrol price in Pakistan is lower than that of Sri Lanka, Nepal, Bangladesh, China […]
Taxation woes: IMF, Pakistan stand-off persists
ISLAMABAD: Pakistan and the International Monetary Fund (IMF) have not yet reconciled on a number of issues as the two sides are yet to reach agreement over decisions such as taking additional taxation measures, hiking petroleum levy and increasing electricity tariff. The government plans to present the Budget 2021-22 in the Parliament on June 11, […]