The federal government collected a record Rs. 1.567 trillion in petroleum levy during fiscal year 2025-26 thanks to record-high fuel prices, according to the Ministry of Finance’s latest fiscal operations report.
Petroleum levy receipts rose 29 percent from Rs. 1.22 trillion in FY25, more than the original target of Rs. 1.468 trillion.
This excludes revenue from customs duty on petroleum products as well as Rs. 26 billion raised through the carbon levy.
For FY27, the government has set an even higher petroleum levy target of Rs. 1.676 trillion, along with Rs. 50 billion from the new climate levy on petroleum products.
Despite government claims of austerity and restructuring, spending on the civilian administration increased 16 percent to a record Rs. 1.033 trillion, crossing the Rs. 1 trillion mark for the first time. The figure exceeded the budget estimate of Rs. 971 billion, up from Rs. 892 billion a year earlier.
Defence expenditure also climbed 18 percent to Rs. 2.588 trillion, compared with Rs. 2.194 trillion in FY25.
On the fiscal front, Pakistan recorded a fiscal deficit of 2.6 percent of GDP, the lowest level since FY03. The primary surplus reached a record 2.9 percent of GDP.
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