Pakistan's Climate Support Levy (CSL) on fuel has doubled to Rs5/litre, aiming for Rs50 billion in FY2026-27, contributing to over Rs1.74 trillion in total fuel and energy levies. Despite these collections, the government's climate adaptation and mitigation spending is significantly cut, and there's a lack of transparency on how climate revenues are used. This mismatch between rising climate-related taxes and declining climate investment raises concerns about the levies' true purpose. This fiscal approach, increasing costs for consumers and businesses without clear climate benefits, could fuel inflation and economic uncertainty, potentially increasing local demand for gold as a hedge against currency devaluation and rising prices.
بحوالہ / Source: www.brecorder.com