Diesel, Petrol Prices in Pakistan Rise Less Than Global Average: Khurram

Islamabad: Adviser to the Finance Minister Khurram Schehzad says Pakistan’s approach remains relatively calibrated, balancing fiscal sustainability with protecting the public in the backdrop of rising global fuel prices.

According to Radio Pakistan, Schehzad emphasized that while diesel and petrol price increases globally are significantly higher, with several countries witnessing increases of twenty-seven to seventy-one percent, Pakistan has recorded a rise of only twenty-two to twenty-four percent. This indicates a strategic approach by the government to mitigate the impact of global fuel price hikes on its citizens.

Schehzad further highlighted that the retail tax on petroleum products in Pakistan stands at twenty-five percent, which is notably lower than the regional average of thirty-five percent. Additionally, he pointed out that there is currently no sales tax levied on petrol and diesel in the country, suggesting a policy aimed at easing the financial burden on the public during challenging economic times.