Islamabad (TIP): Pakistan on Thursday, April 2, sharply increased consumer prices for diesel and petrol, marking its second hike in less than a month, as global oil prices surged amid the ongoing conflict in the Middle East.
The price of diesel has been raised by 54.9% to 520.35 Pakistani rupees ($1.88) per litre, while petrol prices have gone up by 42.7% to 458.40 Pakistani rupees per litre.
Petroleum Minister Ali Pervaiz Malik said the increase was unavoidable due to the spike in international crude prices. “It was inevitable to raise the prices due to the international market prices going out of control after the US-Iran war,” he said during a news conference telecast on state television, alongside Finance Minister Muhammad Aurangzeb.
Last month, Pakistan had already raised diesel and petrol prices by around 20%, citing higher oil prices driven by the US-Israeli war on Iran.
The latest hike is expected to push inflation higher and further strain the country’s impoverished population. Pakistan relies heavily on oil imports, primarily from Saudi Arabia and the UAE, transported through the Strait of Hormuz.
Aurangzeb announced targeted relief measures to cushion the impact on vulnerable groups. The government will provide a subsidy of 100 rupees per litre for two-wheeler users, capped at 20 litres per month, for a period of three months.
He also announced support for the agriculture sector, stating that small farmers will receive a one-time subsidy of 1,500 rupees per acre. Aurangzeb noted that agriculture contributes about 24% to Pakistan’s GDP and remains critical to food security.
Malik added that the government had provided subsidies worth 129 billion rupees over the past three weeks, but continuing such support was no longer financially viable. “Since the resources are limited and there is no end to this war in sight, there was no way to continue with a blanket subsidy,” he said. Global oil markets have remained volatile, with US oil prices jumping more than 11% on Thursday, while Brent crude surged over 7% a day after US President Donald Trump said military operations would be intensified.
Asia
Tibetans in exile wonder, will the next Dalai Lama be as charismatic as this one?
DHARAMSHALA (TIP): The Dalai Lama has announced that he intends to reincarnate, paving the way for a successor to take on a mantle stretching back 500 years after his death. But as he approaches his […]
Asia
Imran Khan takes jibe at Gen Munir, says he should have given himself title of ‘king’ instead of field marshal
LAHORE (TIP): Army chief Gen Asim Munir should have given himself the title of “king” instead of field marshal as Pakistan is currently governed by the jungle law, jailed former premier Imran Khan said on […]
Asia
Nepal, China sign BRI cooperation agreement
Kathmandu (TIP): Nepal and China on December 4 signed a much-awaited framework agreement on the multi-billion dollar Belt and Road Initiative (BRI), paving the way for enhanced economic cooperation on the projects. The BRI Cooperation […]
I appreciate how this blog promotes self-love and self-care It’s important to prioritize our well-being and your blog reminds me of that
I appreciate how well-researched and informative each post is It’s obvious how much effort you put into your work
Your blog has quickly become one of my favorites I always look forward to your new posts and the insights they offer
This is such an important and often overlooked topic Thank you for bringing attention to it and offering valuable advice
I can’t get enough of your insightful articles and engaging stories. Thank you for sharing your passion with the world!
Your vulnerability and honesty in your posts is truly admirable Thank you for being so open and authentic with your readers
Love this appreciation for great content
I just wanted to take a moment to say how much I appreciate your blog posts. They’re always well-written, informative, and keep me coming back for more. Keep up the great work!
Your photography and visuals are always so stunning They really add to the overall quality of the content
What topics would you like to see covered in future posts? Let us know in the comments.
It’s not often that we come across content that really resonates with us, but this one is a standout. From the writing to the visuals, everything is simply wonderful.
Your blog is a great source of positivity and inspiration in a world filled with negativity Thank you for making a difference
I am blown away by the depth and detail in your posts Keep up the excellent work and thank you for sharing your knowledge with us
As someone who struggles with mental health, I appreciate the support and empathy displayed in your blog It means a lot to know I’m not alone
Your blog post had me hooked from the first sentence.
I love how this blog promotes a healthy and balanced lifestyle It’s a great reminder to take care of our bodies and minds
It’s clear that you truly care about your readers and want to make a positive impact on their lives Thank you for all that you do
I am constantly impressed by the depth and detail in your posts You have a gift for making complex topics easily understandable
You have a way of explaining complex topics in a straightforward and easy to understand manner Your posts are always a pleasure to read
Your blog post was really enjoyable to read, and I appreciate the effort you put into creating such great content. Keep up the great work!
Your blog has helped me become a better version of myself Your words have inspired me to make positive changes in my life
Your blog is an oasis in a world filled with negativity and hate Thank you for providing a safe space for your readers to recharge and refuel
This is such an important and often overlooked topic Thank you for bringing attention to it and offering valuable advice
Thank you for always being open and honest with your readers It’s refreshing to see a blogger who is unafraid to be vulnerable and real
NerveCalm is a high-quality nutritional supplement crafted to promote nerve wellness, ease chronic discomfort, and boost everyday vitality.
ProDentim is a modern oral-health supplement formulated with specialized probiotics and naturally sourced ingredients to help maintain firm teeth
7sypk8
The iready hack that shows the answer when you hover over the question is brilliant.