As Pakistan continues to face severe financial stress, the government has approved a steep increase in the levy on high-octane fuel. The price will now rise by PKR 200 per litre, taking it from PKR 100 to PKR 300, news agency ANI reported citing ARY News. The decision was cleared by Prime Minister Shehbaz Sharif during a high-level meeting that reviewed fuel pricing and economic measures amid the ongoing crisis in the Strait of Hormuz due to the conflict in the Middle East.ย
Luxury vehicle fuel to get costlier
Officials stated that the revised high-octane rates will only apply to luxury vehicles and will not affect public transport or air travel fares. The meeting was attended by key government members, including Law Minister Azam Nazir Tarar, Finance Minister Muhammad Aurangzeb, Information Minister Attaullah Tarar and Petroleum Minister Ali Pervaiz Malik, along with senior bureaucrats.
Earlier fuel price shock for citizens
Earlier on March 6, Pakistan’s federal government had already announced a sharp hike of PKR 55 per litre in petrol and diesel rates, citing rising global crude prices triggered by the US-Israel conflict involving Iran. As per the announcement, petrol prices climbed to PKR 321.17 per litre from PKR 266.17, while diesel increased to PKR 335.86 per litre from PKR 280.86 after the revision.ย This announcement was made by Petroleum Minister Ali Pervaiz Malik in a press briefing alongside Deputy Prime Minister Ishaq Dar and Finance Minister Aurangzeb.
Domestic and international airfares also increased
In another blow to the public, Pakistani airlines increased fares on March 10 following a surge in jet fuel prices. Sources quoted by ARY News stated that domestic air tickets are now costlier by PKR 2,800 to PKR 5,000 for routes including Karachi, Lahore and Islamabad. International air travel has witnessed an even steeper climb, with fares rising by PKR 10,000 to PKR 28,000. Notably, ticket prices for Middle Eastern and Central Asian destinations have gone up by around PKR 15,000.
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