By S.M. Inam
KARACHI: The government of Pakistan has announced a major increase in petrol and diesel prices, with petrol rising by Rs 137.24 per litre to Rs 458.41 and diesel by Rs 184.49 per litre to Rs 520.35. The new rates will come into effect from midnight following the official notification.
Petroleum Minister Ali Pervaiz Malik said that global conflicts have caused a surge in energy prices, forcing the government to take difficult but responsible decisions. He noted that record increases in crude oil prices have impacted the global economy and stressed that Pakistan had no role in creating this crisis. Malik urged citizens and authorities to work together to mitigate the effects as quickly as possible.
He explained that the government has tried to protect the public from the full burden through austerity measures, including salary cuts for cabinet members under the Prime Minister’s frugality campaign. The supply of oil, mainly coming through the Strait of Hormuz, has remained stable thanks to timely decisions by a committee formed by the Prime Minister and provincial leaders.
Finance Minister Muhammad Aurangzeb added that the government is moving from blanket subsidies to targeted fuel subsidies to ensure assistance reaches those who need it most. Motorcycles will receive Rs 100 per litre subsidy for 20 litres each month, intercity public transport will get Rs 100 per litre subsidy on diesel, and trucks and goods transport will receive Rs 70,000 per month. Railways will also benefit from subsidies to help manage fares.
Aurangzeb said that all available resources will be used efficiently and announced that policies on energy savings, electricity production costs, and market operating hours will be reviewed in consultation with provincial governments. The new approach aims to protect vulnerable segments of society while maintaining overall economic stability.
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