Islamabad, Pakistan – Web Desk: The Government of Pakistan has announced a substantial increase in fuel prices, raising petrol by Rs 137.23 per liter to Rs 428.40 and diesel by Rs 184.49 per liter to Rs 520.35, citing global energy market turmoil.
Speaking at a press conference, Petroleum Minister Ali Pervez Malik explained that the price hike is driven by record increases in international energy markets due to the ongoing global conflict. Pakistan imports 90 percent of its energy from markets in Dubai and Oman, which have seen unprecedented price surges, with crude oil exceeding $250 per barrel.
Minister Malik emphasized that these difficult but responsible measures aim to protect Pakistan’s long-term economic stability, noting that the government has already spent Rs 129 billion to shield the public from immediate shocks.
To mitigate the impact on vulnerable groups, the government announced a targeted fuel subsidy program:
- Motorcyclists will receive Rs 100 per liter subsidy, limited to 20 liters monthly.
- Small farmers will get a one-time subsidy of Rs 1,500.
- Public transport and freight operators will benefit from Rs 100 per liter diesel subsidy.
- Trucks will receive Rs 70,000 monthly, large vehicles Rs 80,000, and passenger buses Rs 100,000 monthly.
Finance Minister Mohammad Aurangzeb highlighted that these subsidies are intended to reach those who need them most, while the government continues to implement austerity measures, including cabinet salary cuts and reductions in developmental funds.
Minister Malik added that Pakistan’s timely decisions have ensured uninterrupted fuel supply, unlike other nations where energy emergencies have prompted military deployment at fuel stations.
