ISLAMABAD: After progressively increasing fuel prices in the country for about two consecutive months, Pakistan offered respite to consumers by cutting the petrol and diesel rates by eight and 10 rupees, respectively, on Saturday.
The country fixes petroleum prices on a fortnightly basis after evaluating fluctuating international energy market costs and the rupee-dollar parity before transferring the impact on domestic consumers.
Last month, the government announced a record increase of up to Rs26 in the prices of petroleum products, breaching the Rs330 mark for the first time in the country’s history as it faced unprecedented inflation.
“In the wake of variations in international prices of petroleum products and the improvement in the exchange rate, the Government of Pakistan has decided to revise the consumer prices of petroleum products,” announced a statement by the finance division.
“The new prices of petroleum products for the fortnight starting 01.01.2023 will be as follows,” it continued while showing the decline in a tabulated form.
The new rate of petrol has dropped from Rs331.38 to Rs323.38, while high-speed diesel is now available for Rs318.18 after the reduction in its previous price of Rs329.18.
Pakistan’s interim information minister Murtaza Solangi said over a week ago that a decrease in petroleum prices was “highly likely” after the Pakistani rupee had gained value against the US dollar due to the caretaker government’s administrative measures.
Pakistan reduces petrol price by Rs8 per liter following record hikes in fuel costs
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Pakistan reduces petrol price by Rs8 per liter following record hikes in fuel costs
- Petroleum prices were increased by up to Rs26 last month, taking them beyond Rs330 for the first time in history
- The government expressed possibility the price reduction recently due to the strengthening of national currency
Pakistan says defense pact with Saudi Arabia elevated brotherly ties to ‘new heights’
- Pakistan, Saudi Arabia signed strategic defense pact last year pledging aggression against one will be treated as attack on both
- Deputy PM Ishaq Dar says enduring bonds with Islamic and Arab nations form vital pillar of Pakistan’s foreign policy
ISLAMABAD: Deputy Prime Minister Ishaq Dar said on Wednesday that Pakistan’s defense pact with Saudi Arabia elevated its brotherly ties with the Kingdom to “new heights,” stressing that close ties with Arab and Islamic nations form a key pillar of Islamabad’s foreign policy.
Pakistan and Saudi Arabia signed a Strategic Mutual Defense Agreement on Sept. 17 last year, pledging that aggression against one country would be treated as an attack on both, enhancing joint deterrence and formalizing decades of military and security cooperation.
Both nations agreed in October 2025 to launch an economic cooperation framework to strengthen trade and investment ties.
“In the Middle East, our landmark Strategic Mutual Defense Agreement with Saudi Arabia has elevated our brotherly ties to new heights,” Dar said while speaking at the Pakistan Governance Forum 2026 event in Islamabad.
The Pakistani deputy prime minister was speaking on the topic “Navigating International Relations Amidst Changing Geo-Politics.”
Dar noted that Pakistan has reinforced partnerships with other Middle Eastern nations such as the UAE, Qatar, Jordan, Oman, Egypt and Bahrain. He said these partnerships have yielded “concrete agreements” in investment, agriculture, infrastructure, and energy sectors.
“Our enduring bonds with Islamic and Arab nations form a vital pillar of our foreign policy, and we will continue to expand our partnerships across Asia, Latin America, and Africa,” he said.
Dar pointed out that the presidents of Kazakhstan, Uzbekistan and Kyrgyzstan have undertaken visits to Pakistan in recent months, reflecting Central Asian nations’ desire to boost cooperation with Islamabad.
On South Asia, the Pakistani deputy PM said Pakistan has successfully transformed its fraternal ties with Bangladesh into “a substantive partnership.”
“Similarly, the trilateral mechanism involving China, Pakistan, and Bangladesh has been launched with a view to expanding and deepening regional cooperation and synergy,” the Pakistani minister said.
He said Islamabad has strengthened its “all-weather” partnership with China via the second phase of the multi-billion-dollar China-Pakistan Economic Corridor agreement and “unwavering support” from both sides for each other’s core interests.
Dar said Pakistan had also reinvigorated its partnership with the US, advancing cooperation in trade, technology, investment, and regional stability.
“This calibrated approach has enhanced our ability to navigate complexity with skill and confidence, ensuring that our national interests are served without compromising our core foreign policy principles,” he said.
