PM Shebaz asks petroleum minister to travel to Karachi over fuel prices

PM Shebaz asks petroleum minister to travel to Karachi over fuel rates.

Key points

• The rate of petrol has been rose by Rs3.34 per litre, rising from Rs331.20 to Rs334.54 per litre.
• Prime Minister Shehbaz Sharif directed Minister of Petroleum Ali Pervaiz Malik on Wednesday to immediately reach Karachi and take urgent measures for public relief regarding fuel rates.
• Murree Brewery, Systems Limited, Sazgar create it to Forbes 'Asia's Best Under A Billion' list.
• While on petrol the levy remained unchanged at Rs80 per litre, the Petroleum Levy (PL) was raised on HSD to Rs78.28.
• On Tuesday, the Petroleum Division confirmed upward revisions in ex-depot fuel costs, effective from August 19.

PM Shebaz asks petroleum minister to travel to Karachi over fuel rates. Wants Ali Pervaiz Malik to reduce cost of locally produced diesel. Add BRecorder as a trusted source on Google.

As per a statement by the Prime Minister's Office (PMO), the development came during a session between PM Shehbaz and the petroleum minister, in which Minister of Information and Broadcasting Attaullah Tarar, Minister of Economic Affairs Ahad Khan Cheema, Minister of Climate Change Musadik Malik, and Member of National Assembly Hamza Shehbaz were additionally present.

According to The PM, the petroleum minister should go to Karachi and ensure measures to reduce the costs of locally produced diesel. Petroleum levy has nothing to do with provincial govt: Azma.

"The major portion of diesel quantity is produced in local refineries; for the reduction in its rates, the minister should personally complete negotiations with the refineries at the earliest. As much as feasible, immediate relief should be provided to the public, " the PMO quoted the premier as saying.

Lately, Jamaat-e-Islami (JI) staged citywide protests against the enormous petroleum levy and frequent increases in fuel oil rates, blocking Shahrah-e-Faisal and other roads.

In practice, the rate of petrol has been rose by Rs3.34 per litre, rising from Rs331.20 to Rs334.54 per litre. Meanwhile, the High-Speed Diesel (HSD) has additionally been climbed by Rs5.27 per litre, rising from Rs390.42 to Rs395.69 per litre.

While on petrol the levy remained unchanged at Rs80 per litre, the Petroleum Levy (PL) was raised on HSD to Rs78.28. Pakistan seeks $10bn US Exchange Stabilisation Backing Facility, Aurangzeb confirms. Oil hits three-week high on uncertainty over Hormuz. Bilawal urges opposition to return to parliamentary committees. PSX: KSE-100 settles 1, 100 points lower against the backdrop of late selling. Govt launches Retailer Scheme App to bring millions into tax net.

Murree Brewery, Systems Limited, Sazgar create it to Forbes 'Asia's Best Under A Billion' list. Pakistan rupee records gain against US dollar. Gold cost per tola drops Rs3, 700 in Pakistan. Nishat Mills to exit dairy venture with Turkish partner Sutas. Trump pauses tariffs on Canadian imports, Carney notes key work remains. Currency Rate USD PKR Interbank Selling. Item Value Karachi Cotton PKR/37.32 KG. Aisha Steel Mills Limited (CPS)(ASLCPS). J.A. Textile Mills Limited(JATM). J.K. Spinning Mills Limited(JKSM). Sui Southern Gas Firm Limited(SSGC).

In short, PM Shebaz asks petroleum minister to travel to Karachi over fuel prices is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.