The authorities have reportedly proposed an increase in the petroleum levy in the budget 2023-24. Petroleum development levy is proposed to be increased from Rs50 to Rs60 per liter. A Rs10 per liter hike in the levy is estimated to generate Rs870 billion. Salaries are proposed to be increased by 20% and pensions 25-30%. An amount of Rs780 billion has been proposed to be allocated to pensions in the new budget 2023-24. In the ongoing financial year, Rs609 billion was set aside for pensions.

Credit: Independent News Pakistan-INP