Planning Minister Ahsan Iqbal has ruled out an immediate reduction in Pakistan’s petroleum levy, saying the government may consider lowering the charges gradually in the next federal budget. His statement comes amid pressure from Jamaat-e-Islami (JI) to reduce taxes on petroleum products as international oil prices remain elevated. Iqbal said a committee had been formed…
Pakistan’s federal government has reduced the price of petrol by Rs3.19 per litre while increasing the price of high-speed diesel by Rs2.25 per litre. The revised rates took effect on October 28, according to a notification issued by the Petroleum Division, introducing another adjustment in domestic fuel prices. Under the new rates, petrol now costs…
The federal government has reduced the price of petrol by Rs2.71 per litre while increasing the price of high-speed diesel (HSD) by 31 paisa, according to an official notification issued on Wednesday. The revised fuel prices will take effect from Thursday, October 22, bringing a slight reduction in petrol costs while diesel becomes marginally more…
The Pakistani government has reduced the price of petrol by Rs5.16 per litre and high-speed diesel (HSD) by Rs7.69 per litre, offering some relief to consumers amid fluctuations in international oil markets. According to a notification issued by the Petroleum Division, the revised prices took effect on October 20. Petrol is now priced at Rs381.14…
The federal government has reduced the prices of petrol and high-speed diesel (HSD), providing limited relief to consumers amid continued volatility in international oil markets. Under the revised rates, the price of petrol has been reduced by Rs1.65 per litre, bringing it down to Rs389.14 per litre. The price of high-speed diesel has been cut…
The federal government is considering a monthly financial relief package of around Rs2,000 for motorcycle owners as rising petrol prices continue to put pressure on household budgets. Prime Minister Shehbaz Sharif has given the go-ahead for the proposed relief scheme, which is expected to initially run for three months. Officials said the programme could be…
Federal Petroleum Minister Ali Pervaiz Malik has said that Pakistan’s transition to a daily petroleum pricing mechanism will improve transparency, eliminate opportunities for market manipulation, and establish a more competitive, consumer-friendly fuel pricing system. Speaking during a meeting with key stakeholders from the petroleum industry, the minister described the reform as a major step towards…
The federal government has increased the prices of petroleum products after introducing a daily fuel pricing mechanism, replacing the previous weekly review system. According to a notification issued by the Petroleum Division, the revised prices took effect from midnight on Friday and will remain in force until Monday, July 20. Under the new rates, petrol…
China’s Shandong Xinxu Group has expressed strong interest in making large-scale investments in Pakistan’s energy sector, unveiling proposals that include deep-sea oil and gas exploration, refinery modernization, advanced drilling technologies, and the development of coastal energy cities. The proposals were discussed during a high-level meeting between Federal Minister for Petroleum Ali Pervaiz Malik and Shandong…
Pakistan’s Petroleum Division has proposed major relief measures for fuel consumers in its recommendations for the federal budget 2026-27, including reducing the petroleum levy target to Rs1 trillion and lowering the levy on petrol and diesel to Rs50 per litre while international oil prices remain high. According to reports, the recommendations have been submitted to…
