The windfall tax on aviation turbine fuel (ATF), crude products, diesel, and petrol has been abolished by the Finance Ministry. This decision, which takes effect from December 2, 2024, is a result of the withdrawal of the special additional excise duty (SAED) on domestic crude oil production and the export of ATF, petrol, and diesel, as stated in Notification nos 29/2024 and 30/2024.

The windfall tax was initially implemented in July 2022 to capture revenue from the significant gains made by producers in response to rising global crude prices. Additionally, special taxes on the exports of these fuel products were introduced to regulate the market. The recent elimination of these taxes signifies a notable change in the government's approach to managing the energy sector amidst fluctuating global oil prices.