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Pakistan on Sunday approved an increase in the levy on high-octane fuel, raising it by Pakistani Rupees (PKR) 200 per litre from PKR 100 to PKR 300, after Prime Minister Shehbaz Sharif chaired a high-level meeting to review fuel pricing and economic relief measures, according to
ARY News.
The decision applies to high-octane fuel used by luxury vehicles, with the revised levy taking the total charge to PKR 300 per litre.
The move was finalised during a meeting chaired by Shehbaz Sharif, where officials reviewed matters related to fuel pricing and economic relief.
The meeting included Minister for Law and Justice Azam Nazir Tarar, Finance Minister Muhammad Aurangzeb, Minister for Information and Broadcasting Attaullah Tarar, and Minister for Petroleum Ali Pervaiz Malik, along with other senior government officials.
According to ARY News, the increase in high-octane fuel prices will not affect public transport fares or air travel costs.
On March 6, the federal government had raised petrol and diesel prices by PKR 55 per litre.
The increase followed rising global oil prices linked to the US-Israel war with Iran, which put pressure on domestic energy costs.
As the war continues to rage, entering its fourth week, the global economy is under "major threat" from the energy crisis caused by conflict, warned International Energy Agency chief Fatih Birol on Monday. "no country 'No country will be immune" to its effects, he added.
Speaking at the National Press Club in Australia's capital, Birol compared the current energy crisis to those of the 1970s and the impact of Russia's 2022 invasion of Ukraine.
"This crisis as things stand is now two oil crises and one gas crash put all together," Birol said.
Roughly 20% of the world’s oil supply has been affected by limited access to the Strait of Hormuz following a series of Iranian attacks on commercial vessels. The disruption has raised concerns about global energy security and maritime safety.
The decision applies to high-octane fuel used by luxury vehicles, with the revised levy taking the total charge to PKR 300 per litre.
Decision taken during high-level meeting
The move was finalised during a meeting chaired by Shehbaz Sharif, where officials reviewed matters related to fuel pricing and economic relief.
The meeting included Minister for Law and Justice Azam Nazir Tarar, Finance Minister Muhammad Aurangzeb, Minister for Information and Broadcasting Attaullah Tarar, and Minister for Petroleum Ali Pervaiz Malik, along with other senior government officials.
According to ARY News, the increase in high-octane fuel prices will not affect public transport fares or air travel costs.
On March 6, the federal government had raised petrol and diesel prices by PKR 55 per litre.
The increase followed rising global oil prices linked to the US-Israel war with Iran, which put pressure on domestic energy costs.
As the war continues to rage, entering its fourth week, the global economy is under "major threat" from the energy crisis caused by conflict, warned International Energy Agency chief Fatih Birol on Monday. "no country 'No country will be immune" to its effects, he added.
Speaking at the National Press Club in Australia's capital, Birol compared the current energy crisis to those of the 1970s and the impact of Russia's 2022 invasion of Ukraine.
"This crisis as things stand is now two oil crises and one gas crash put all together," Birol said.
Roughly 20% of the world’s oil supply has been affected by limited access to the Strait of Hormuz following a series of Iranian attacks on commercial vessels. The disruption has raised concerns about global energy security and maritime safety.
