The Federal government proposed a significant increase in the petroleum levy on petroleum products. Presenting the federal budget for the fiscal year 2024-25, Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb said that the government proposed an increase of 33 percent on petrol and diesel.
The National Assembly has been proposed by the government to okay an increase of levy on petrol and diesel from Rs 60 to Rs 80 per litre. Similarly, the proposal sought a 50 percent increase in the levy on high-octane, light diesel, and ethanol has been increased. After approval of the proposal, Rs 50 would be charged on per litre high-octane, light diesel, and ethanol.
