ISLAMABAD: The Pakistani government has reduced the price of high-speed diesel Rs3 per liter, but kept the price of petrol unchanged, the finance ministry announced late Sunday.
Pakistan revises petroleum prices every fortnight. After the latest revision, a liter of diesel will cost Rs255.38, while that of petrol will continue to sell for Rs252.10.
Petrol is mostly used in Pakistan for private transport, small vehicles, rickshaws, and two-wheelers. At the same time, 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.
“The Oil and Gas Regulatory Authority has worked out the consumer prices of petroleum products in view of the fluctuations in the international market in the last fortnight,” the finance ministry said on X.
“It has accordingly revised the petroleum products for next fortnight starting from December 16, 2024.”
The government also reduced the prices of kerosene oil and light diesel oil by Rs3.32 and Rs2.78 to Rs161.66 and Rs148.95, respectively.
On Dec. 1, Pakistan increased the price of petrol by Rs3.72 per liter due to varying prices of petroleum products in the international market.
Fuel prices in energy-starved Pakistan are instrumental in contributing to inflation. The South Asian country saw inflation hit a record high of 38 percent in May 2023.
Pakistan’s annual consumer inflation slowed to 4.9 percent in November, cooling from 7.2 percent in October.
Pakistan cuts diesel price by Rs3 per liter, keeps petrol unchanged
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Pakistan cuts diesel price by Rs3 per liter, keeps petrol unchanged
- Prices of kerosene and light diesel oil have also been decreased by Rs3.32 and Rs2.78, respectively
- Pakistan revises petroleum prices every fortnight based on variations in the international market
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.
