- Measure the alignments on the conditions established by the International Monetary Fund.
- The lender provides Pakistan $ 1.3 billion under the RSF.
- RS2.50 Levy on three products would help recover RS6-7 billion a month.
The oil division made a summary to the cabinet committee for the elimination of legislative cases (CCLC), proposing the introduction of a carbon tax of RS2.50 per liter on petrol, diesel and furnace oil at the end of June for the year 2025-26 ,, The news reported.
The tax should be increased to RS5 per liter on petroleum products during the later financial year, 2026-27.
This measure aligned with the conditions established by the International Monetary Fund (IMF), which provided Pakistan $ 1.3 billion under the installation of resilience and sustainability (RSF) to help treat the impacts of climate change.
Development officials said RS2.50 Levy carbon on three police products would help bring 6 billion rupees per month. When he entered Rs5, turnover will amount to Rs12-14 billion per month. Income can also be used for a significant reduction in C02 emissions by creating effective incentives for the adoption and use of electric vehicles.
It will contribute to the objective of penetration of 30 pc of new sales of electric vehicles of passengers and 50pc for 2-3 wheels by 2030 and risk reduction of stability of the balance of payments by moving away from imported fuel products.
The oil director (PL) was increased earlier from RS10 per liter of RS60 to RS70 mainly to reduce the power rate from RS2.12 per unit for three months. The government has again increased PL on gasoline and diesel to RS78.02 and RS77.01 per liter.
From now on, end consumers of petroleum products (MS, HSD and FO) will pay RS2.50-5 per liter as carbon levy. Earlier, the ECC meeting also increased the ceiling or the PL ceiling to Rs90 per liter. It is currently located at RS78.02 on petrol and RS77.01 on HSD.
The government has already increased the margin of the equalization of internal freight (IFEM) of RS1,87 per liter on petrol and diesel to accommodate refineries and WTO. They were faced with a loss of 34 billion rupees during the current financial year due to the exemption from the sales tax on POL products.
The margin of oil marketing companies (WTO) of RS1.12 per liter and the margin of RS1.12 concessionaires has not yet been decided by the Prime Minister.