Reports say the federal government plans a petroleum levy target of Rs1.727 trillion for the next financial year. This target is higher than the current year’s benchmark.
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It is about Rs292 billion above the present fiscal year’s target. It is also Rs157 billion higher than expected collections for this year.
Strong Performance in Current Year
The government is expected to meet its current target of Rs1.468 trillion. So far, collections have remained strong.
During July to May, the country collected around Rs1.43 trillion. In June, officials expect another Rs140 billion in revenue.
As a result, total collections may reach Rs1.57 trillion. This would exceed the original target by nearly Rs100 billion.
Monthly Revenue Trends
Petroleum levy collections fluctuated throughout the year. However, overall performance showed steady growth.
Monthly figures included Rs157 billion in July and Rs103.46 billion in August. In September, collections reached Rs112.85 billion.
In October, revenue rose to Rs143.48 billion. It increased further to Rs148.36 billion in November.
December brought Rs162.46 billion, while January recorded Rs108.76 billion. February stood at Rs120.39 billion.
March collections reached Rs139.48 billion. April stood at Rs146 billion. May recorded about Rs87.5 billion.
Key Revenue Source for Budget
Overall, the levy generated strong income from petroleum imports and refined products. Imported petrol and diesel contributed over Rs686 billion.
Refined petroleum products added more than Rs753 billion. Together, they form a major revenue stream for the government.
The figures highlight the growing importance of petroleum levy ahead of the upcoming federal budget.
