KARACHI: Pakistan on Monday cut the prices of petrol and diesel, saying it was due to a decreasing trend of petroleum prices in the international market, the finance ministry said in a statement.
The price of petrol would drop by 40 Pakistani rupees ($0.144) to 283.38 rupees a liter effective October 16. High-speed diesel cost would drop by 15 rupees to 303.18 rupees a liter.
“Owing to the decreasing trend of petroleum prices in the international market and due to the appreciation of the Pak rupee, the government has decided to revise the existing consumer prices of petroleum products,” the finance ministry said.
Battling rising inflation and dwindling foreign exchange reserves, the crisis-hit country is trying to navigate a path to economic stability after agreeing on a $3 billion IMF loan in July.
The government must collect about Rs869 billion in petroleum levies on petroleum products during the current fiscal year under its budget targets and commitments made with the IMF.
Between August 15 and September 15, petrol and high-speed diesel prices were raised by Rs58.43 and Rs55.83 per liter, respectively, to a historic Rs331-333 per liter at retail stage until September 30, when prices were reduced.
Pakistan cuts petrol and diesel prices
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Pakistan cuts petrol and diesel prices
- Price of petrol would drop by 40 Pakistani rupees to 283.38 rupees a liter
- High-speed diesel cost would drop by 15 rupees to 303.18 rupees a liter
Pakistan announces 5G spectrum auction in March in bid to boost Internet speeds
- Pakistan has more than 130 million broadband connections, but access remains uneven despite increasing IT exports
- Pakistani Internet users currently operate on about 274 MHz of spectrum, compared to around 600 MHz in Bangladesh
ISLAMABAD: The Pakistan Telecommunication Authority (PTA) on Thursday announced that it will hold a 5G spectrum auction in March, a move aimed at improving Internet speeds and connectivity in the South Asian country.
The development comes at a time of mounting pressure on Pakistan’s telecommunication networks and Internet service providers, with users and businesses complaining of slow speeds and frequent disruptions as a limited spectrum struggles to serve the South Asian nation of over 240 million.
Pakistan has more than 130 million broadband connections but access remains uneven, though its IT exports reached a record $3.8 billion in Fiscal Year 2024–25, up from $3.2 billion the previous year, marking an 18 percent year-on-year increase, according to the Pakistan Software Export Board.
The PTA said the spectrum auction for Next Generation Mobile Services/5G will be held on March 10, following constructive regulatory coordination and extensive stakeholder consultations, aimed at ensuring a smooth, transparent, and well-participated auction process.
“The confirmed timeline provides telecom operators and prospective bidders with adequate preparation time and reflects PTA’s commitment to facilitating optimal participation while ensuring full alignment with procedural and regulatory requirements,” the authority said.
It urged all interested parties to review the information memorandum for NGMS/5G in Pakistan and stay informed through updates on the PTA website.
Information Technology (IT) Minister Shaza Fatima Khawaja last month said the quality of Internet service in Pakistan is not at par with international best practices or even regional standards, and one of the fundamental reasons for this was the non-availability of the spectrum.
Pakistani Internet users currently operate on about 274 MHz of spectrum, compared with around 600 MHz in Bangladesh, that leads to congestion, she told a news conference on Dec. 23, likening the situation to “trying to run eight lanes of traffic through two lanes.”
She said the spectrum auction will help improve Internet services in the country.
