Federal Government Announces Reduction in Petroleum Prices
Islamabad (Kudrat News): The federal government has announced a reduction in petroleum product prices.
According to media reports, following the approval of the Prime Minister, the Petroleum Division issued a notification regarding a decrease in petrol and diesel prices.
As per the notification, the price of petrol has been reduced by Rs4 per litre, bringing the new price to Rs373.78 per litre. Similarly, diesel prices have been reduced by Rs2 per litre.
However, according to another report, the price of diesel remains at Rs378.78 per litre.
Meanwhile, budget documents for fiscal year 2026–27 reveal that the government has set a primary surplus target of 2.0 percent of GDP for the upcoming fiscal year.
The documents estimate the primary surplus at Rs2,828 billion for the next fiscal year, while the petroleum levy target has been set at over Rs1,676 billion.
The budget further states that the natural gas development surcharge target is set at Rs70 billion, crude oil royalty at Rs45 billion, and natural gas royalty at Rs95 billion. The windfall levy on crude oil has been set at Rs17 billion.
Additionally, the petroleum levy on LPG is targeted at Rs3.45 billion, while the windfall levy on gas is set at Rs1.12 billion. The climate support levy target is Rs50 billion, and the captive power plants levy target is Rs15.73 billion for the next fiscal year.
