ISLAMABAD: The IMF has projected a shortfall of Rs 215 billion in petroleum development levy (PDL) on petroleum products for current fiscal year 2024-25 and projected collection of one percent of the GDP, with total collection depending on the GDP growth.
This was revealed in the IMF report “First Review Under the Extended Arrangement Under the Extended Fund Facility, Requests for Modification of Performance Criteria and Request for an Arrangement Under the Resilience and Sustainable Facility” released on Saturday.
In current fiscal year, IMF projected Rs 1066 billion PDL collection against target set at Rs1281 billion despite the removal of PDL cap on petroleum products through a presidential ordinance. Till March 15, 2025, the government was charging a maximum levy of Rs60 per litre on petrol and high speed diesel (HSD), however, it was raised by Rs10 per litre from March 16 onwards to Rs70 per litre. On April 15, the federal government enhanced the PDL on petrol by Rs8.02 per litre and HSD Rs7.01 per litre, taking it to Rs 78.02 per litre and Rs 77.01 per litre on both the products.
The federal government collected PDL of Rs833 billion during the first nine months (July to March) of the ongoing fiscal year. With the current pace of PDL collection, the IMF projected that collection would be approximately Rs1066 billion against the budget target of Rs1281 billion for the ongoing fiscal year 2024-25.
The collection of PDL from previous fiscal year (July to March of 023-24) was Rs719.592 billion.
Copyright Business Recorder, 2025
