ISLAMABAD: The government announced a reduction in the petrol price in Pakistan by Rs5.45 per liter on Tuesday night, bringing the overall rate down to Rs288.49 for the next 15 days following a recommendation of the Oil and Gas Regulatory Authority (OGRA).
Pakistan typically adjusts petroleum prices on a fortnightly basis, taking into account fluctuations in the international energy market and the rupee-dollar exchange rate.
According to an official notification, the diesel price has also seen a downward revision of Rs8.42 per liter, setting it at Rs281.96.
“The prices of Petroleum products have seen a decreasing trend in the international market during the last fortnight,” the notification announced. “The Oil & Gas Regulatory Authority (OGRA) has worked out the consumer prices, based on the price variations in the international market. The prices of Motor Spirit [petrol] & HSD [high-speed diesel] for the next fortnight, starting from 1st May, 2024, are accordingly being lowered.”
Earlier, the government increased the petrol and diesel prices by Rs4.5 and Rs8.1 per liter, respectively, on April 15.
Pakistan significantly increased fuel prices after securing a short-term, $3 billion loan from the International Monetary Fund (IMF) last year.
The rising rates also led to spiraling inflation in the country, though the government started offering relief to the people by gradually bringing down the petroleum prices.
Pakistan is in the process of securing yet another IMF loan which is expected to be bigger in terms of size and duration.
Pakistan reduces petrol and diesel prices amid favorable global energy market conditions
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Pakistan reduces petrol and diesel prices amid favorable global energy market conditions
- The government has announced to bring down the petrol and diesel prices by Rs5.45 and Rs8.42 respectively
- Rising fuel cost in Pakistan led to inflationary pressure in economy, though things are said to be improving
Security forces kill nine Pakistani Taliban militants in restive northwest, military says
- The militants were killed in separate operations in Khyber Pakhtunkhwa's Dera Ismail Khan and Bannu districts
- Pakistan this week summoned Afghanistan’s deputy head of mission to demand action against the Pakistani Taliban
ISLAMABAD: Pakistan security forces have killed nine Pakistani Taliban militants in two separate engagements in the northwestern Khyber Pakhtunkhwa (KP) province, the military said on Sunday, amid a surge in militancy in the region bordering Afghanistan.
Four militants were killed in an intelligence-based operation in KP's Dera Ismail Khan, while five other Pakistani Taliban members were gunned in an exchange of fire with security forces in the Bannu district, according to the Inter-Services Public Relations (ISPR), the military's media wing.
Weapons and ammunition were also recovered from the deceased "Indian-sponsored" militants, who remained actively involved in numerous activities against security forces and law enforcement agencies and target killing of civilians. There was no immediate response from India to the statement.
"Sanitization operations are being conducted to eliminate any other Indian sponsored kharja [militant] found in the area," the ISPR said in a statement. "Pakistan will continue at full pace to wipe out menace of foreign sponsored and supported terrorism from the country."
KP has seen a surge in militancy in recent years, with the Pakistani Taliban, or the Tehreek-e-Taliban Pakistan (TTP), and other militant groups frequently targeting security forces convoys and check-posts, besides targeted killings and kidnappings of law enforcers and government officials.
Pakistan this week summoned Afghanistan’s deputy head of mission and demanded “decisive action” against the TTP after four Pakistani soldiers were killed in an attack on a military camp in KP’s North Waziristan district that also killed four assailants, according to the Pakistani foreign office.
Islamabad has long accused Kabul of allowing its soil and India of backing militant groups, including the TTP, for attacks against Pakistan. Kabul and New Delhi have consistently denied this.
The uptick in militant violence triggered fierce clashes between Pakistan and Afghanistan in Oct. The two countries agreed to a ceasefire in Doha on Oct. 19, but tensions remain high between the neighbors.
