Government Collects Rs1,430 Billion in Petroleum Levy from Public in Just 11 Months

Islamabad (Qudrat Daily) – Amid rising tensions and conflict between the United States and Iran, the federal government has collected record-breaking revenue from the public under the head of petroleum development levy (PDL), reaching Rs1,430 billion during the first 11 months of the current fiscal year.

According to a report, the government has surpassed all previous records in petroleum levy collection from July to May. Against a set target of Rs1,468 billion for the fiscal year, the authorities have already collected Rs1,430 billion, with expectations of an additional Rs100 billion by the end of the fiscal year.

Sources said that during the last three months of heightened geopolitical tensions, particularly between the US and Iran, the government collected more than Rs373 billion in petroleum levy alone.

Monthly data shows that Rs157 billion was collected in July, Rs103.46 billion in August, Rs112.85 billion in September, Rs143.48 billion in October, Rs148.36 billion in November, Rs162.46 billion in December, Rs108.76 billion in January, Rs120.39 billion in February, Rs139.48 billion in March, Rs146 billion in April, and Rs87.5 billion in May.

Officials stated that from July to May, more than Rs686.52 billion was collected through levy on imported petrol and diesel, while Rs753.54 billion was generated from locally refined crude oil products.

In May alone, Rs50 billion was collected from imported petroleum products and Rs37 billion from locally refined crude oil.

Sources further indicated that strict action against illegal Iranian fuel smuggling significantly contributed to increased official petroleum sales and higher levy collection. The Federal Board of Revenue (FBR) reportedly seized and sealed 1,576 illegal petrol pumps, including 1,442 completely shut down, which shifted demand toward legally sold fuel.

According to the Finance Bill, the government has set ambitious petroleum levy targets in line with International Monetary Fund (IMF) requirements. The IMF had projected Rs1,546 billion in PDL collection for the current fiscal year, while the estimate for the next fiscal year stands at Rs1,727 billion, reflecting an expected increase of Rs260 billion.