Pakistan, June 11 -- Pakistan is set to introduce a new carbon levy on petrol, high-speed diesel, and furnace oil, a move aimed at curbing excessive fossil fuel consumption and generating crucial funds for climate change mitigation and green energy programmes.
The proposed levy, which will initially stand at Rs2.5 per litre, is expected to come into effect for financial year 2025-26, increasing to Rs5 per litre in the financial year 2026-27.
In May, the Petroleum Division (PD) formally submitted a summary to the Cabinet Committee for Disposal of Legislative Cases (CCLC), proposing the Rs2.50 per litre carbon levy on these fuel products by the end of June for the upcoming budgetary year (FY26).
This carbon levy will then be increased to R...