KARACHI: Pakistan’s caretaker information minister Murtaza Solangi said Saturday the government might be able to reduce fuel prices in the country during the next fortnightly review due to the relative increase in the value of the Pakistani rupee against the US dollar in recent weeks.
He issued the statement during a brief media interaction at the Karachi Press Club in response to a question regarding a possible relief in the record rise in petroleum prices which has built massive inflationary pressure on the economy and increased the cost of living in the country.
The country fixes fuel prices on a fortnightly basis after evaluating fluctuating international energy market costs and the rupee-dollar parity to transfer the impact on domestic consumers.
The government announced a historic increase in the prices of petroleum products last week on Friday, making the per liter petrol rate breach the Rs330 mark for the first time in history.
“We import most the oil and the price in the international market and the amount of money we pay in dollars become two major factors affecting the cost of oil products,” the information minister said.
“But the way our government has reduced the value of the dollar through administrative measures, we will probably pay less rupees to buy petrol,” he continued. “It is therefore highly likely that the price of petrol will come down when the next announcement is made.”
Solangi also responded to questions about the prevailing political situation in the country, specifically about the forthcoming return of Pakistan’s former prime minister Nawaz Sharif from self-exile in London ahead of the national polls in January.
The three-time premier flew out of the country in November 2019 after securing medical bail following his conviction in two corruption references and was later declared an absconder for not returning to Pakistan within a stipulated period.
Sharif and his party have said that all cases against him are politically motivated. However, the announcement of his homecoming on October 21 at the beginning of the month has made his rivals raise the question about whether he was going to surrender himself to the law.
“Nawaz Sharif has been the prime minister of this country three times,” Solangi said. “He is the leader of a very large political party. When he went abroad, he did not break the walls of the prison but got permission from a court and the government of that time. When he returns, he will be treated according to the constitution and law of the country.”
The minister said the media should ask about Sharif’s strategy in the face of all the legal challenges from his political faction, adding he did not know whether he would apply for bail before returning to the country or not.
This is the first time the country’s interim administration has issued a statement about Sharif’s planned return to Pakistan.
Pakistan’s interim administration says fuel price reduction likely in upcoming fortnightly review
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Pakistan’s interim administration says fuel price reduction likely in upcoming fortnightly review
- Caretaker information minister says gradual increase in the rupee value against the US dollar may bring down petrol cost
- Murtaza Solangi also says Pakistan’s three-time prime minister, Nawaz Sharif, will be treated as per the law upon return
Pakistan’s PIA partners with UK, Canadian rail services to facilitate passengers
- The development comes weeks after a Pakistani consortium, led by Arif Habib Group, clinched a 75 percent stake in PIA
- The move will offer seamless onward travel to PIA passengers to eight cities in Canada and over 50 in the UK, airline says
ISLAMABAD: The Pakistan International Airlines (PIA) has partnered with rail service providers in the United Kingdom (UK) and Canada to offer seamless onward travel for its passengers, the recently privatized airline said on Tuesday, adding the move is aimed at improving convenience for its customers.
The move comes weeks after a Pakistani consortium, led by Arif Habib Group, clinched a 75 percent stake in PIA for Rs135 billion ($482 million) after a competitive bidding process, in a deal that valued the airline at Rs180 billion ($643 million).
The sale marked Pakistan’s most ambitious effort in decades to reform the debt-ridden airline that had accumulated over Rs784 billion ($2.8 billion) in losses. The government said it aimed to end decades of state-funded bailouts and support the airline’s revival.
The airline’s move to provide both air and train travel facility to passengers on a single ticket is aimed at attracting more customers by providing them improved facilities at their doorstep, according to the Pakistani carrier.
“The air-to-rail partnership is a major step toward building PIA’s network on digital and modern lines,” the airline said. “This facility will save passengers’ time.”
Passengers arriving in Toronto on PIA flights will be able to continue their journey to eight major cities in Canada through PIA’s partner rail service, according to the airline.
Passengers traveling to the UK cities of Manchester and London via PIA will be able to access more than 50 cities through rail service.
“PIA passengers can get tickets to their destination from all PIA booking offices and registered travel agents,” it said. “Tickets can also be booked via PIA’s official website and PIA’s mobile application.”
