Pakistan Prime Minister Shehbaz Sharif has said his government will absorb a 56bn-rupee fuel subsidy to shield people from rising energy costs linked to the Middle East conflict.
In a televised address on Friday, Sharif said: "Today in Pakistan, the price of petrol should have been 544 Pakistani rupees per litre, but you are getting it for only 322 rupees."
He added that diesel prices were also being kept below market levels, saying they should have reached around 790 rupees per litre but were being sold at about 335 rupees.
Sharif said Pakistan was working "day and night" on diplomatic efforts to promote regional peace, alongside measures to protect the public from rising global oil prices.
Earlier in March, schools across Pakistan were forced to close for a fortnight and government departments shifted to a four-day week.
Pakistan imports most of its energy and has already raised petrol and diesel prices to record levels.
Brent crude is above $100 a barrel, while the Strait of Hormuz is effectively closed, delaying fuel shipments worldwide.
Earlier this month, Pakistan increased consumer prices for diesel and petrol, citing higher oil prices driven by the conflict in Iran. The move fed through into higher inflation and hit Pakistan’s poorest communities.
Recent footage from cities including Lahore and Karachi showed long queues at petrol stations, with motorcyclists lining up to refuel as prices rose.
Pakistan imports most of its oil from Saudi Arabia and the UAE through the Strait of Hormuz.
World Environment Day should be used as a platform to turn public awareness into concrete policy action on climate change, biodiversity loss and pollu...
China and Britain sat down for a major round of talks in Beijing on Tuesday and walked away with a clear message that the two countries want a better,...
North Korean leader Kim Jong Un called for an "exponential" expansion of the country's atomic arsenal during a visit to a newly operational nuclear ma...
Israel and Lebanon have agreed to implement a ceasefire after U.S.-backed talks in Washington. The deal requires Hezbollah to halt attacks and withdra...
Environmental ministers and senior officials from member states of the Economic Cooperation Organization (ECO) gathered in Samarkand for the 6th ECO M...
China’s Special Envoy for Afghanistan, Yue Xiaoyong, has met Pakistan’s Special Representative for Afghanistan, Mohammad Sadiq, in Islamabad to discuss the China-facilitated Urumqi Process and regional security concerns.
Chinese President Xi Jinping praised the “unbreakable friendship” between China and Pakistan as he met Pakistani Prime Minister Shehbaz Sharif in Beijing on Monday, a day after companies from both countries signed cooperation agreements worth $1.22 billion.
An explosion on a railway track in Pakistan's Quetta killed at least 24 people, news outlet Al Arabiya reported on Sunday, citing officials.
Pakistan's Prime Minister Shehbaz Sharif arrived in China on May 23rd for a four-day state visit that comes at a particularly consequential moment for Beijing, for Islamabad, and for a region being reshaped by the ongoing war between the United States and Iran.
Severe Tropical Storm Jangmi brought heavy rain, power cuts and transport disruption across Japan on Wednesday (3 June) as it tracked towards the greater Tokyo region.
Police officers were pelted with missiles during violent clashes at a protest near the Southampton, UK, home of convicted murderer Vickrum Digwa, as anger continued to grow over the handling of the fatal stabbing of 18-year-old Henry Nowak.
Competing narratives continue to shape perceptions of the war in Ukraine, with Russian leadership suggesting a possible end phase while Ukrainian officials warn of renewed large-scale attacks and ongoing escalation risks.
An Iranian drone and missile attack struck Kuwait International Airport early Wednesday, injuring several people, damaging Terminal 1 and forcing flight diversions, Kuwaiti authorities said.
Thousands of people have taken to the streets in Albania in recent days to protest against a luxury tourism project linked to Jared Kushner, the son-in-law of U.S. President Donald Trump, and his wife Ivanka Trump.
Israel and Lebanon have agreed to implement a ceasefire after U.S.-backed talks in Washington. The deal requires Hezbollah to halt attacks and withdraw from southern Lebanon, while both sides will resume direct talks later this month aimed at reaching a broader agreement.
Afghanistan’s Deputy Minister for Counter-Narcotics has urged the United Nations Office on Drugs and Crime (UNODC) to expand support for legal livelihoods for farmers, saying such assistance is vital to preventing narcotics production and trafficking.
Turkish and Armenian leaders reiterated their commitment to normalising relations during a phone call on Tuesday, discussing plans to deepen cooperation and advance a long-stalled rapprochement process.
At least 21 people, including 18 foreign nationals, have died after a devastating fire swept through a hotel in India's capital, Delhi, on Wednesday. The blaze is among the deadliest fires recorded in the city since 2022.
Iran’s Revolutionary Guards (IRGC) said on Wednesday that they had targeted the U.S. Fifth Fleet headquarters in Bahrain and a U.S. air base in the Persian Gulf with missiles and drones, in retaliation for Tuesday’s air raid on a telecommunications tower on an island in the Strait of Hormuz.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment