Editor's PickLatest NewsPakistanTrending Stories

Budget 2024-25: Federal govt unveils major hike in petroleum levy limit

The maximum PDL limit for these fuels has been raised to Rs80 per litre.

Islamabad: Budget 2024-25: Federal govt unveils major hike in petroleum levy limit. Finance Minister Muhammad Aurangzeb presented the budget for the upcoming fiscal year on Wednesday, announcing a substantial increase in the petroleum development levy (PDL) on diesel and petrol.

The maximum PDL limit for these fuels has been raised to Rs80 per litre.

During his budget speech, the Finance Minister outlined the government’s aim to reduce the budget deficit to 6.9 per cent of GDP.

According to the Finance Bill 2025, the new maximum PDL on high-speed diesel oil and petrol has been increased by Rs20, reaching Rs80 per litre.

The PDL on superior kerosene oil (SKO) remains unchanged at Rs50 per litre. However, the levy has been increased on light diesel oil (LDO), high-octane blending component (HOBC), and E-10 gasoline, rising from Rs50 to Rs75 per litre. The PDL on locally produced or extracted liquefied petroleum gas (LPG) is maintained at Rs30,000 per metric tonne.

Read more: Budget 2024;Mobile phones, hybrid cars, cement, property, become expensive

The budget document indicates that the government plans to generate Rs1,281 billion from these adjustments in the PDL.

These measures are part of the government’s broader strategy to manage fiscal challenges and boost revenue through adjustments in petroleum levies, impacting various fuel categories differently.

Budget 2024-25: Pakistan sets minimum wage at Rs37,000

ISLAMABAD – The federal government has increased the minimum wage by Rs5,000 for unskilled labourers in the budget for next fiscal year 2024-25.

It has proposed jacking up the minimum salary to Rs37,000 from previous Rs32,000, a move that aims at providing relief to the labour class in the country.

The approval for hiking the minimum wage was granted by the federal cabinet in a meeting, chaired by Prime Minister Shehbaz Sharif.

Meanwhile, the federal cabinet has proposed up to 25 percent increase in salaries of its employees.

The government has announced 25% increase in salaries for Grade1 to 16 employees while 20% increased was proposed in salaries of officers of Grade17 to 22.

The Budget 2024-25 will be presented by Finance Minister Muhammad Aurangzeb in the National Assembly shortly as it was hit by delay due to difference between the PPP and PML-N, the coalition partners in the federal government.

Related Articles

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker