Planning Minister Ahsan Iqbal has confirmed that the Pakistani government will not immediately lower petroleum levy rates despite public pressure from Jamaat-e-Islami. Speaking to the media, Iqbal indicated that any potential reduction would be implemented gradually starting with the upcoming budget. This announcement follows a statement by Petroleum Minister Ali Pervaiz to the National Assembly, which clarified that these levies are essential for meeting International Monetary Fund requirements. Official data reveals that the government collected Rs4.4 trillion in petroleum levies during the 2022-23 fiscal year, exceeding its own financial targets by Rs227 billion over a four-year period. A specialized committee has been established to evaluate viable strategies for a phased decrease in these charges, with senior officials including Deputy Prime Minister Ishaq Dar involved in the ongoing policy discussions.
Source : The Express Tribune
Photo : The Express Tribune
