Pakistan on Friday reduced petrol and diesel prices for the second consecutive week as the government attempted to ease pressure on consumers following months of sharp increases linked to tensions in the Middle East and disruptions in global oil supplies. According to a notification issued by the Petroleum Division, petrol prices fell by Rs6 per […]
Pakistan Could Buy Russian Oil Under New US Licence
Pakistan could gain temporary access to Russian crude oil under a new 30-day licence issued by the United States Department of the Treasury, diplomatic sources told Dawn, as Washington attempts to ease mounting pressure on global energy markets. The temporary measure aims to help energy-vulnerable countries secure crude supplies during ongoing disruptions caused by tensions […]
IMF Imposes Rs1.73 Trillion Fuel Levy Target on Pakistan
International Monetary Fund (IMF) has set a petroleum levy target of Rs1.73 trillion for Pakistan in the next fiscal year, tightening revenue conditions and imposing stricter monitoring measures to ensure tax collection targets are met under the country’s bailout programme. According to the IMF staff-level report released on Friday, the levy target for fiscal year […]
Pakistan Continues Fuel Cuts and 4 Day Workweek Until June 13
Pakistan on Monday extended its nationwide austerity drive and fuel conservation measures until June 13 as uncertainty surrounding the Middle East conflict continues to pressure global oil markets. The Cabinet Division issued a formal notification after Shehbaz Sharif approved the extension on the recommendations of the implementation committee. According to the notification, the government will […]
Pakistan Becomes South Asia’s Most Expensive Country for Petrol
Pakistan now ranks as the least affordable country in South Asia for petrol when measured against income, with the World Bank highlighting how rising fuel prices and declining purchasing power are intensifying economic pressure on households across the country. While petrol prices in Pakistan remain broadly in line with regional averages in dollar terms, the […]
Petrol Price Truth: Nearly Half of Petrol Price Is Taxes and Margins
As petrol prices in Pakistan surge to record levels, new official data reveals that a significant portion of what consumers pay at the pump is not the actual fuel cost but taxes, levies and profit margins. According to government documents, Pakistanis are paying around Rs211.26 per litre in taxes and margins alone, which accounts for […]
Iran Allows 20 Pakistani Ships Through Hormuz in Major Breakthrough
B6Pakistan has received a major boost amid ongoing regional tensions, as Iran has agreed to allow 20 additional Pakistani-flagged ships to pass through the strategically vital Strait of Hormuz, in what officials describe as a positive step toward stability. Deputy Prime Minister and Foreign Minister Ishaq Dar announced the development, saying the arrangement would allow […]
Nation Observes Pakistan Day with Simplicity and Resolve
Pakistan is marking Pakistan Day today with national spirit and patriotism, but without the traditional military parade, as the government implements austerity measures linked to the ongoing Middle East crisis. The day is being observed with dignity and reverence across the country. Flag-hoisting ceremonies are being held at official buildings, while special events are being […]
PM Shehbaz Sharif rejects fuel price hike, orders framework to ensure relief reaches the poor
Prime Minister Shehbaz Sharif has rejected a summary proposing an increase in petrol and diesel prices, offering immediate relief to consumers already burdened by rising inflation. The decision came despite strong pressure from global oil markets, where prices have surged due to escalating tensions in the Middle East. According to officials, the proposal to increase […]
PM Shehbaz Announces Austerity Plan as Iran War Triggers Fuel Crisis
Prime Minister Shehbaz Sharif on Monday unveiled a series of austerity measures aimed at conserving fuel and reducing government expenditure as Pakistan faces economic pressure from the global fuel crisis triggered by the war in the Middle East. In a televised address to the nation, the prime minister said the government had held consultations earlier […]