ISLAMABAD: The federal government is pressing provincial authorities to share the rising cost of imported fuel, in a bid to keep domestic petrol and diesel prices unchanged for consumers despite swings in global markets, according to people familiar with the discussions.
Economy
Pakistan finalises mobile-app fuel quota system for two- and three-wheelers to target subsidies amid surging oil costs
ISLAMABAD: The government has completed testing and finalised a mobile-application-based quota system for subsidised fuel sales to two- and three-wheelers, with the possibility of extending coverage to vehicles of up to 800 cubic centimetres, according to a senior government official.
Pakistan weighs ending petrol, diesel price freeze as IMF talks on hold
ISLAMABAD: Pakistan is actively considering unfreezing retail prices of petrol and high-speed diesel to bring them in line with global benchmarks, while preparing targeted subsidies for two- and three-wheelers, as jet fuel and kerosene prices have rocketed amid Middle East turmoil.
ADB launches financial package to shield Asia-Pacific from Middle East conflict fallout
ISLAMABAD: The Asian Development Bank said on Tuesday it is launching a financial support package to help its developing member countries in Asia and the Pacific cushion the economic and financial fallout from the conflict in the Middle East.
Pakistan secures March-April fuel cargoes, builds buffers as Middle East conflict roils oil markets
ISLAMABAD: Pakistan has largely locked in petrol cargoes for the current month and April, with additional shipments in the pipeline to thicken supply buffers, a high-level government committee was told Tuesday as officials monitor the fallout from escalating conflict in the Middle East.
Pakistan bans high-octane fuel in government vehicles as austerity tightens amid oil shock
ISLAMABAD: Prime Minister Shehbaz Sharif banned the use of high-octane fuel in all government vehicles on Monday, the latest austerity step as the country confronts the economic fallout from soaring global oil prices triggered by conflict in the Middle East.
A Pakistani farm hand is seen fertilising a wheat field by hand in this photo by Qasim Ghauri dated February 11, 2021. Image courtesy of APP.
Pakistan fertiliser buffers shield Rabi, Kharif crops from Iran conflict fallout
ISLAMABAD: The government has ruled out any risk of fertiliser shortages for the ongoing Rabi 2025-26 season and the upcoming Kharif 2026 planting, even as the escalation of conflict in Iran and the broader Middle East sharply raises threats to global energy and agrifood supply chains.
Pakistan shifts to targeted fuel relief and demand curbs as Iran conflict threatens supplies through April
ISLAMABAD: The government is preparing to limit fuel subsidies to only the neediest while ramping up conservation and demand-management steps, Finance Minister Muhammad Aurangzeb said, as global oil prices climb on supply risks from the US-Israeli war on Iran.
Pakistan hikes premium gasoline levy by Rs200 a liter to raise Rs9 billion monthly for public relief
ISLAMABAD: Prime Minister Shehbaz Sharif approved an immediate increase of Rs200 a litre in the levy on high-octane blending component, or HOBC, the premium gasoline used in luxury and high-performance vehicles, shifting more of the fiscal burden from the national budget to higher-income consumers as global oil prices surge.
PM Sharif rejects fresh fuel-price increase on Eid eve, govt to absorb Rs69 billion burden amid Gulf oil shock
ISLAMABAD: Prime Minister Shehbaz Sharif said his government will shoulder the full cost of a fresh surge in international oil prices rather than pass it on to consumers, absorbing an additional Rs69 billion in subsidies to prevent petrol and high-speed diesel from rising as much as Rs127 and Rs252 a liter respectively.