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8pc of Uplift Budget for Climate Change
- Pakistan proposed a new carbon levy of Rs2.5 per litre for FY26 and Rs5 per litre for FY27 on petrol, diesel, and furnace oil to start the fiscal year 2025-26.
- This levy resulted from the Petroleum Division’s May submission to the Cabinet and is part of an IMF agreement supporting climate change funding with $1.3 billion RSF assistance.
- The levy aims to curb fossil fuel consumption, generate Rs6-7 billion monthly initially, increase to Rs12-14 billion later, and support national EV penetration targets and CO2 emission reductions.
- Finance Minister Aurangzeb announced the levy on the National Assembly floor as part of the Finance Bill 2025, integrating environmental concerns into petroleum taxation and boosting climate adaptation and green energy funding.
- The levy institutionalizes carbon pricing in Pakistan’s petroleum framework, reflecting a strategic climate resilience shift while also potentially raising fuel and electricity costs for consumers.
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Govt slaps Rs. 2.5/Litre carbon levy on petrol, diesel, and furnace oil in budget 2025–26 - Profit by Pakistan Today
Government introduces Pakistan’s first carbon pricing mechanism to curb emissions, fund climate projects, and realign energy policy with global environmental goals.
·Pakistan
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Total News Sources12
Leaning Left1Leaning Right4Center0Last UpdatedBias Distribution80% Right
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80% Right
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R 80%
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