ISLAMABAD: Pakistan has slashed the prices of petroleum products by up to Rs5 per liter for the next 15 days, the Finance Division announced late Friday.
The government slashed the price of high-speed diesel by Rs5.31 to Rs258.64 per liter, while that of petrol by only Re0.50 to Rs255.63 per liter.
The price of kerosene oil went down by Rs3.53 to Rs168.12 and that of light diesel oil by Rs2.47 to Rs153.34, according to a Finance Division notification.
“The Oil & Gas Regulatory Authority (OGRA) has reviewed & adjusted consumer prices for petroleum products in view of recent fluctuations in the international oil market,” it read.
Fuel prices in Pakistan are reviewed and adjusted fortnightly. The mechanism ensures that the net impact of changes in import costs is passed on to consumers, helping sustain the country’s fuel supply chain.
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.
Pakistan slashes petroleum prices by up to Rs5 per liter
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Pakistan slashes petroleum prices by up to Rs5 per liter
- The government cut the petrol price by only Re0.50 to Rs255.63 per liter
- Pakistan revises fuel prices every fortnight based on international rates
Bangladesh approves new rice imports from Pakistan amid price pressures
- The deal follows Bangladesh’s resumption of direct rice trade with Pakistan earlier this year for the first time since independence in 1971
- Diplomatic ties between the two nations have improved since the ouster of prime minister Sheikh Hasina after mass protests last year
DHAKA: Bangladesh has approved the import of 50,000 metric tons of white rice from Pakistan under a government-to-government deal as part of efforts to stabilize domestic prices, officials said on Tuesday.
The Cabinet Committee on Government Purchase cleared the deal at $395 per ton, reinforcing Dhaka’s renewed trade engagement with Islamabad.
Rice prices in Bangladesh have jumped by between 15 percent and 20 percent over the past year, with medium-quality rice selling at about 80 taka ($0.66) per kilogram. Despite increased imports and the removal of duties to ease supply constraints, prices for the staple grain remain stubbornly high.
The deal follows Bangladesh’s resumption of direct rice trade with Pakistan earlier this year for the first time since independence in 1971. In February, it imported 50,000 tons of rice from Pakistan at $499 per ton under a similar agreement.
Diplomatic ties between the two South Asian nations have improved since an interim government led by Nobel laureate Muhammad Yunus took office after mass protests forced then prime minister Sheikh Hasina to flee to neighboring India last year.
Formerly East Pakistan, Bangladesh gained independence after a nine-month war in 1971, and relations with Pakistan have remained fraught in the decades since the conflict.
Separately, the government approved another 50,000 tons of parboiled rice through an international tender, part of a series of recent purchases aimed at cooling local prices. India’s Pattabhi Agro Foods secured the contract with the lowest bid of $355.77 per ton.
