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.
The U.S. military began a blockade of Iran's ports on Monday, President Donald Trump said, and Tehran threaten...
A now-deleted artificial intelligence (AI) generated image by the U.S. President has sparked immense backlash across the political divide. It ...
Start your day informed with AnewZ Morning Brief. Here are th...
Authorities in China have launched an investigation into a wave of online bullying targeting Olympic diving champion Quan Hongchan, as concerns gro...
UK Prime Minister Keir Starmer has refused to join a U.S.-led blockade of the Strait of Hormuz, distancing Britain from military escalation after f...
At a time of deepening global polarisation, rising conflict and shrinking space for dialogue, Pakistan is stepping into a historic role. Diplomatic engagements in Islamabad, bringing together regional powers amid the Iran crisis, signal both urgency and opportunity.
Afghanistan’s Foreign Ministry said on Sunday that talks with Pakistan had been positive, while Türkiye stressed the importance of stronger ties between Kabul and Islamabad.
The Iranian President, Masoud Pezeshkian, said that the U.S. hegemonic approach has been the main obstacle to reaching a fair agreement, his office announced on Monday.
U.S. and Iranian negotiators held their highest-level talks in half a century in Pakistan on Saturday in an effort to end their six-week war, as President Donald Trump said the U.S. military had begun the process of clearing the Strait of Hormuz.
Israel has reprimanded Spain’s most senior diplomat in Tel Aviv after a giant effigy of Prime Minister Benjamin Netanyahu was blown up in a Spanish town.
U.S. President Donald Trump warned that any Iranian ships approaching ports in the Strait of Hormuz would be "immediately eliminated" on Monday, as the U.S. started its blockade.
Nine suspects were arrested on Saturday (11 April) in connection with a terror attack targeting a police post in Istanbul’s Beşiktaş district.
Millions of Orthodox Christians across the globe celebrated Easter, known as Holy Pascha, on Sunday (12 April) with midnight liturgies, candlelight processions and deeply rooted local traditions reflecting centuries of faith.
Afghanistan’s Foreign Ministry said on Sunday that talks with Pakistan had been positive, while Türkiye stressed the importance of stronger ties between Kabul and Islamabad.
An Indian healthcare provider plans to invest $50 million in diagnostic and pharmaceutical projects in Uzbekistan’s Namangan region, aiming to expand access to advanced medical services between 2026 and 2028.
Nine suspects have been formally arrested over last week’s gun attack near Israel’s consulate in Istanbul, judicial officials have said. The assault left one attacker dead and two Turkish police officers lightly wounded.
Azerbaijani and Armenian civil society representatives have convened for a new round of dialogue under the ‘Peace Bridge’ initiative, as both sides seek to sustain engagement ahead of key political developments in the region.
The reopening of Azerbaijan’s embassy in Iran reflects the “special relationship” between the two countries, a regional expert has said.
Cement maker Lafarge was found guilty by a French court on Monday (13 April) of paying millions to jihadist groups, including ISIS, to keep a plant running during the Syrian civil war.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment