ISLAMABAD: The government has sharply increased the prices of petrol and diesel, putting extra burden on consumers. Officials say the decision was taken after a strong rise in global oil prices linked to tensions in the Middle East.
According to a notification issued by the Finance Ministry, the price of petrol has been increased by Rs137.24, taking it to Rs458.41 per litre. The price of high-speed diesel (HSD) has gone up by Rs184.49, reaching Rs520.35 per litre. Kerosene oil has also become costlier by more than Rs34 per litre.
To control the impact on transport costs, the government has removed the petroleum levy on diesel. However, the levy on petrol has been raised to Rs160 per litre.
Relief measures announced
Speaking at a late-night press conference, Petroleum Minister Ali Pervaiz Malik and Finance Minister Muhammad Aurangzeb said the decision was difficult but necessary to stabilise the economy and meet IMF requirements.
They announced several relief steps to reduce the impact on different groups:
- Bikers: A subsidy of Rs100 per litre for up to 20 litres of petrol per month
- Farmers: Small farmers will get Rs1,500 per acre as one-time support
- Transport sector: Monthly cash support between Rs70,000 and Rs100,000 for trucks and inter-city buses to limit fare increases and control food prices
Energy saving steps
The government has also decided to enforce early closure of markets and businesses across the country. Officials say this step could save around 1,200 megawatts of electricity.
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The ministers said the decisions were taken after consultations between civil and military leadership to manage the economy in the current global situation.
