ISLAMABAD: A day after the Finance Act 2025-26 came into effect, the oil industry has urged the government to withdraw the petroleum levy (PL) and climate support levy (CSL) totalling Rs84,742 per tonne on furnace oil (FO), warning that the move threatens industrial activity and economic stability.

In a letter to the Special Investment Facilitation Council (SIFC), the Oil Companies Advisory Council (OCAC) — representing over three dozen oil marketing firms and refineries — protested the imposition of a PL of Rs82,077 and a CSL of Rs2,665 per tonne, introduced to secure a $1.3bn resilience support facility from the International........

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