ISLAMABAD: If approved, the new target would exceed the current fiscal year’s goal by approximately Rs292 billion and stand about Rs157 billion higher than the estimated collections expected by the end of the ongoing fiscal year.
Officials familiar with the matter said the government is well-positioned to surpass its existing petroleum levy objective of Rs1.468 trillion. Between July and May, collections reached nearly Rs1.43 trillion, indicating strong revenue performance.
With an estimated Rs140 billion expected to be generated in June, total petroleum levy receipts could climb to around Rs1.57 trillion by the close of the fiscal year—about Rs100 billion above the original target.
Data also show a substantial year-on-year increase in revenue. During the first eleven months of the fiscal year, petroleum levy collections were nearly Rs600 billion higher than those recorded during the same period a year earlier.
Monthly receipts fluctuated throughout the year, beginning with Rs157 billion in July. Collections then amounted to 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, and Rs108.76 billion in January.
Further collections included Rs120.39 billion in February, Rs139.48 billion in March, Rs146 billion in April, and roughly Rs87.5 billion in May.
Revenue breakdowns indicate that more than Rs686.5 billion was collected from levies on imported petrol and diesel during July–May. Meanwhile, petroleum products produced from imported crude oil contributed over Rs753.5 billion to the total levy receipts.
The figures underscore the increasing importance of petroleum levies as a major source of government revenue ahead of the announcement of the upcoming federal budget.
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