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…
US President Donald Trump has paused the implementation of sweeping sanctions and tariffs targeting Russia for 60 days to assess their potential impact on the global and American economies, US Secretary of State Marco Rubio has said. Rubio explained that the administration wanted to evaluate the economic consequences of the restrictions, which could affect several…
The federal government has increased the prices of petrol and high-speed diesel in Pakistan by more than Rs5 per litre, adding to the pressure on consumers and businesses following a series of fuel price increases. According to a notification issued by the Petroleum Division, the Oil and Gas Regulatory Authority (OGRA) revised the prices under…
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…
