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.

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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.

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PM Sharif presses for de-escalation in widening Middle East war during Eid calls with leaders from Azerbaijan to Lebanon

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday held a series of telephone conversations with leaders across the Muslim world, using the occasion of Eid al-Fitr to exchange greetings while pressing for an immediate de-escalation of the escalating conflict in the Middle East.

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Pakistan accuses India of illegal suspension of Indus Waters Treaty, says millions of farmers at risk

ISLAMABAD: Pakistan accused India on Thursday of violating a decades-old water-sharing agreement by unilaterally putting the Indus Waters Treaty on hold, warning that the decision endangers the livelihoods of millions who depend on the rivers for their crops and could further inflame tensions between the two nuclear-armed neighbours.

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Pakistan rejects Afghan Taliban claims of Eid ceasefire violation, warns of swift resumption of strikes

ISLAMABAD: Pakistan on Friday dismissed as “frivolous” and “absolutely false” Afghan Taliban accusations that it had violated a temporary pause in cross-border hostilities during the Eid al-Fitr holiday, while issuing a blunt warning that any act of terrorism, cross-border attack or drone strike would immediately end the truce and trigger a resumption of military operations with “renewed intensity.”

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