The planned Rs. 20 per liter increase in Petroleum Development Levy for 2024-25 has been canceled by the government.

The federal government has decided against increasing the petroleum development levy (PDL) by Rs. 20 per liter on MS petrol and High-Speed Diesel (HSD) in the federal budget for 2024-25.

Finance Minister Muhammad Aurangzeb, in his concluding remarks on budget amendments, announced the withdrawal of the proposal to raise PDL to Rs. 80 per liter for petrol and HSD. Instead, the levy will see a smaller increase of Rs. 10, bringing it to Rs. 70 per liter in the next fiscal year.

He also emphasized the government’s commitment to promoting green energy, stating that no duties will be imposed on solar panels as part of this initiative. Currently, the government applies a petroleum levy of Rs. 60 per liter on petrol and high-speed diesel.

Additionally, Kerosene and light diesel oil will be subject to a levy of Rs. 50 per liter. High octane petrol will carry a levy of Rs. 70 per liter, and e-ton petrol will include a levy of Rs. 50 per liter.

Furthermore, a levy of Rs. 30,000 per metric ton will be imposed on LPG.

The Government Has Introduced A Fixed Tax Of Up To Rs. 1.5 Million On Residential Plots.