ISLAMABAD (Kashmir English): Federal Minister for Petroleum Ali Pervaiz Malik has indicated that if the International Monetary Fund does not provide relief, the government may have to decide to impose a levy of Rs50 to Rs55 on petrol or diesel by next Friday.
He said that the government is constantly in touch with the IMF, and efforts are being made to avoid putting more burden on the people.
However, if no relief is found in the negotiations, difficult decisions will be inevitable to uphold the agreement.
The Petroleum Minister said that the government ensured the availability of oil during the recent crisis and did not allow any shortage to arise, although the country had limited reserves. Relief was provided to the people by spending about Rs100 billion in collaboration with the provinces.
He further said that at present the levy on diesel is zero, while its burden has been shifted to petrol. The price of diesel in Pakistan is relatively low compared to the global level. International financial cooperation is necessary to keep the economy stable.
Transporters increase fares after rise in prices of petroleum products
The Pakistan Goods Transport Alliance on Saturday announced a 10 percent increase in freight fares following a rise in the prices of petroleum products.
Alliance President Malik Shehzad Awan stated that transporters across the country condemned the continuous increase in fuel prices, which is driving inflation and contributing to widespread unemployment due to government policies.
In a related move, public transport operators announced a 5 percent increase in fares, which has taken effect immediately.
Both decisions come as the sector grapples with rising operational costs caused by the surge in petroleum prices.
In Lahore, the RTA secretary held talks with transporters at Transport House, where a limited fare increase of 3% to 4% was approved.
Public transport fares from Lahore to different cities have been increased by Rs60 to Rs460. The fare from Lahore to Rawalpindi has been fixed at Rs2,340 after an increase of Rs110.
The fare from Lahore to Peshawar has been fixed at Rs3,100 after an increase of Rs150. Fares for Faisalabad and Sargodha have been fixed at Rs1,260 after an increase of Rs60.
The Lahore-to-Karachi fare has been fixed at Rs9,720 after an increase of Rs460.
Petrol, diesel prices increased
Earlier, the federal government on Friday increased diesel and petrol prices by Rs26.77 per liter each for the next week, effective from Saturday.
According to the notification issued by the Petroleum Division, the petrol price has reached Rs 393.35 per litre with an increase of Rs 26.77. The prior price of petrol was Rs 366.58 per liter.
Similarly, the High Speed Diesel price has been fixed at Rs 380.19 per liter from Rs 353.42, with a rise of Rs 26.77.
The new prices will be applicable from 12 midnight, the notification said.
