Business

The government gathers Rs1,430 billion in petroleum tax over 11 months of the ongoing fiscal year.

Published

4 months ago

June 7, 2026

Bilal

Pakistan has already exceeded its annual revenue target from the Petroleum Development Levy (PDL), collecting more than Rs1.43 trillion during the first eleven months of the current fiscal year, from July to May.

According to official data, the government is now on track to collect even more before the fiscal year ends, with estimates suggesting that an additional Rs100 billion could be generated in June. This would push total collections well beyond the original target of Rs1.468 trillion.

The sharp rise in revenue has been particularly noticeable in recent months. Over the last three months alone, the government collected around Rs373 billion from petroleum products, largely due to higher levy rates and stricter enforcement measures.

Monthly collections fluctuated throughout the year, starting at Rs157 billion in July. Revenues then stood at Rs103.46 billion in August, Rs112.85 billion in September, Rs143.48 billion in October, Rs148.36 billion in November, and Rs162.46 billion in December. Collections reached Rs108.76 billion in January, Rs120.39 billion in February, and Rs139.48 billion in March, before rising to about Rs146 billion in April. May contributed another Rs87.5 billion.

A closer look at the figures shows that Rs686.52 billion came from imported petroleum products, while Rs753.54 billion was generated from locally refined crude oil.

Officials say the stronger-than-expected performance was driven by higher levy rates introduced under the Finance Bill, in line with commitments made to the International Monetary Fund (IMF). At the same time, the government intensified efforts to curb fuel smuggling and improve tax compliance.

Authorities believe these enforcement measures have played a major role in boosting revenue. Customs Enforcement’s crackdown on illegal fuel trade helped shift sales into the formal market, increasing both recorded fuel consumption and tax collection. Meanwhile, the Federal Board of Revenue (FBR) identified 1,576 illegal fuel stations across the country and shut down 1,442 of them, further strengthening government revenues.

The figures highlight how a combination of higher levy rates and stricter enforcement has enabled the government to not only meet but exceed one of its key fiscal targets well before the end of the financial year.

Business

Jet fuel price rises by Rs9.05 per litre in Pakistan

Published

1 hour ago

October 4, 2026

Bilal

Jet fuel prices have once again increased in the country, along with the price of kerosene oil.

The price of jet fuel has been increased by Rs9.05 per litre, while kerosene oil has become Rs7.68 per litre more expensive.

Following the increase, the new price of jet fuel has been fixed at Rs355.52 per litre, while kerosene oil will now cost Rs329.54 per litre.

Meanwhile, according to a notification issued by the Petroleum Division, the price of petrol has also been increased by Rs2.10 per litre, taking its new price to Rs392.76 per litre.

Business

Govt sets deadline of 20th Oct for pilgrims to pay 2nd Hajj installment

Published

1 hour ago

October 4, 2026

Bilal

The religious affairs ministry stated late Friday that the federal government has fixed October 20 as the deadline for intending pilgrims selected under the government Hajj system to deposit the second installment of their pilgrimage dues.

ISLAMABAD: Pakistan has set aside 107,526 slots for the government plan, including 30,000 for a shorter package, and another 71,696 slots have been granted to the private scheme for next year’s Hajj.

The country on Aug. 25 completed online booking of all tickets in the government Hajj scheme, the first time the whole quota has been filled through a digital reservation system.

The ministry of religious affairs said in a statement on Friday that the applications of pilgrims for next year’s Hajj will be cancelled if they did not pay by the deadline.

“The dates for depositing the second installment of dues for Hajj pilgrims under the government scheme have been fixed from 5 October to 20 October, 2026,” the ministry said.

“If the second installment is not deposited within the deadline, then the Ministry said the pilgrim’s application will be cancelled and the amount deposited earlier will be refunded to the pilgrim’s account,” the Ministry said.

Under the government arrangement, pilgrims can pay the second payment of Hajj dues through the ‘Pak Hajj App’ or digital Hajj site within the stipulated deadline.

The government said that submitting the Hajj medical fitness certificate on the ‘Pak Hajj’ app or the digital Hajj portal was essential before depositing the second installment.

This year the government announced that pilgrims will pay Rs1.2 million ($4,334) for a 40-day Hajj package and Rs1.3 million ($4,695) for a shorter, 20- to 25-day package under the government system.

The first installment of dues for seats under the shorter government package was paid within 24 hours of the process starting on Aug 18 and the rest of the seats under the plan were booked by Aug 25.

Business

Petrol price goes up by Rs2.10, diesel by 30 paisa a liter:

Published

1 day ago

October 3, 2026

Bilal

– Petrol and diesel prices have been increased once again under the latest fuel-price revision.

The revised prices will take effect from October 3, 2026.

According to a notification issued by the Petroleum Division, the price of petrol has been increased by Rs2.10 per litre. Following the latest increase, petrol will now cost Rs392.76 per litre.

The price of high-speed diesel has also been raised by 30 paisa per litre, taking its new rate to Rs399.64 per litre.

The Petroleum Division said the announced rates are linked to movements in international petrol and diesel prices.

According to the notification, changes in the global market, Platts rates, premiums and other associated costs were taken into account when determining the revised prices.