Currently, the reading literacy assessment of PISA established by OECD has widely received concern. The essence of OECD guidelines for the development of economy can be summarized as motivation to promote reading literacy. This article is based on the theoretical framework of Georg-Hans Gadamer’s Philosophical Hermeneutics in which the purpose of reading texts is to produce new meanings of the texts for answering the reader’s questions. In this vein, reading is purpose-oriented to produce new knowledge, which is meaningful for the development of knowledge economy. When the PISA reading literacy framework is examined from the perspective of Philosophical Hermeneutics it has no such design, i.e. raising questions to consult texts. Therefore, the researcher raises a research question: “What is the relation between reading literacy and producing new knowledge?” to consult Philosophical Hermeneutics. The aim of this article is to make connection between reading literacy and knowledge economy. The methodology of this research is the fusion of horizons and the main method is hermeneutic circle. The conclusion as a new horizon is to separate different levels of conceptual frameworks of reading literacy for different ages by fusing the two horizons—PISA reading literacy framework and Philosophical Hermeneutics.