ISLAMABAD: The Pakistani government has cut the price of petrol by Rs1.8 per liter, the information ministry announced late Saturday.
Pakistan revises petroleum prices every fortnight. After the latest revision, petrol will now cost Rs259.10 per liter.
The price of high-speed diesel went down by Rs3.32 to Rs262.75 per liter.
“The new prices will take effect from September 1, 2024,” the information ministry said in a statement.
The government also reduced the price of kerosene oil by Rs2.15 to Rs169.62 per liter, while light diesel oil went down by Rs2.97 to Rs154.05 per liter.
In Pakistan, petrol is mostly used in private transport, small vehicles, rickshaws and two-wheelers while any increase in the price of diesel is considered highly inflationary as it is mostly used to power heavy transport vehicles and particularly adds to the prices of vegetables and other eatables.
However, the negligible decrease in petrol and diesel prices is unlikely to provide much relief to the inflation-stricken Pakistanis.
Pakistan cuts petrol price by a meagre Rs1.8 per liter
https://arab.news/pwjzn
Pakistan cuts petrol price by a meagre Rs1.8 per liter
- The South Asian country revises petroleum prices every fortnight
- Latest decrease unlikely to offer any relief to inflation-hit Pakistanis
Pakistan expands crypto engagement with appearance at Mar-a-Lago finance forum
- Pakistan Virtual Assets Regulatory Authority Chairman Bilal bin Saqib attends World Liberty Financial event at Trump’s Mar-a-Lago estate
- Discussions focused on future of global financial infrastructure, digital assets, stablecoins, capital markets innovation, says Saqib’s office
ISLAMABAD: Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman and Minister of State Bilal bin Saqib joined global finance leaders at an event hosted by World Liberty Financial, a crypto venture linked to US President Donald Trump’s family, Saqib’s office said on Thursday.
The event was hosted by World Liberty Financial, a crypto-based finance platform launched in September 2024 linked to Trump’s family. According to Saqib’s office, the gathering was held at Mar-a-Lago, the private estate and club owned by Trump in Florida.
Speakers and attendees at the event included David Solomon, chairman and CEO of Goldman Sachs, Adena Friedman, chairperson and CEO of Nasdaq as well as Lynn Martin, president of the New York Stock Exchange, Saqib’s office said. The event was organized and hosted by Eric Trump and American businesspersons Zach Witkoff and Alex Witkoff.
“Discussions focused on the future of global financial infrastructure, digital assets, stablecoins, capital markets innovation and the evolving relationship between regulation and emerging financial technologies,” the statement said.
It said Saqib’s attendance at the event reflected Pakistan’s growing engagement with global discussions shaping the next phase of financial and technological transformation.
“As Pakistan moves toward modernizing its financial infrastructure and strengthening its position in the global digital economy, such high-level engagements signal increasing international recognition of the country’s regulatory direction and leadership,” the statement added.
Last month, Pakistan signed a memorandum of understanding with a company affiliated with World Liberty Financial to explore the use of a dollar-linked stablecoin for cross-border payments.
Pakistan has stepped up efforts recently to regulate its digital asset sector and is exploring digital currency initiatives as part of broader measures to reduce cash usage.
