Tag: government announcement

  • Petrol price reduced by Rs10.2, diesel by Rs2.33 per litre

    Petrol price reduced by Rs10.2, diesel by Rs2.33 per litre

    The government has announced a reduction in the prices of petrol and high-speed diesel (HSD) by Rs10.2 and Rs2.33 per litre, respectively, for the upcoming fortnight. 

    In a notification, the Ministry of Finance stated that the prices of petroleum products have exhibited a mixed trend in the international market over the past two weeks. The Oil and Gas Regulatory Authority (Ogra) calculated the new consumer prices based on these international market fluctuations.

    The revised prices set petrol at Rs258.16 per litre and HSD at Rs267.89 per litre. 

    The Prime Minister’s Office described the reduction as a gift from the premier in anticipation of the upcoming Eidul Azha. 

    Sources previously indicated that the government intended to pass the benefits of lower international prices on to consumers. 

    Over the past two weeks, the prices of petrol and HSD in the international market decreased by approximately $3.75 and $2.7 per barrel, respectively. This follows a significant drop of about $12 per barrel for petrol and $8 per barrel for HSD over the prior month.

    The international price of petrol has decreased to just over $90 per barrel from about $94 per barrel, while the price of HSD has fallen to $95 per barrel from $98 per barrel.

  • Govt maintains petrol price at Rs281.34, cuts diesel price by Rs7 per litre 

    Govt maintains petrol price at Rs281.34, cuts diesel price by Rs7 per litre 

    On Thursday, the caretaker government announced its decision to maintain the current petrol price at Rs281.34 per litre while implementing a reduction of Rs7 per litre for high-speed diesel (HSD) for the upcoming two weeks. 

    As per the official notification from the finance ministry, the revised price for high-speed diesel will be Rs289.71 per litre starting on December 1. 

    Additionally, the prices for kerosene and light diesel oil have decreased by Rs3.82 and Rs4.52, respectively. 

    Following these adjustments, kerosene will now be priced at Rs201.16 per litre, and light diesel oil will be available at Rs175.93 per litre. 

    This decision comes in response to factors such as an IMF review and the recent global decline in oil prices. 

    Notably, the postponement of a ministerial meeting by Opec+ (the Organisation of the Petroleum Exporting Countries and allies, including Russia) to November 30 contributed to a midweek tumble in global oil prices. 

    Brent crude futures experienced a 0.4 per cent decline, down 37 cents to $80.21 per barrel, while US West Texas Intermediate (WTI) crude futures lost 0.4 per cent, down 29 cents to $75.25. 

  • ‘Special allowance’ announced to assist workers earning below Rs32,000

    ‘Special allowance’ announced to assist workers earning below Rs32,000

    The federal government, in accordance with a notification issued by the finance division, has officially implemented a minimum monthly wage of Rs32,000. 

    The prescribed minimum wage, which is set at Rs32,000, applies to all civil employees of the federal government. 

    This also encompasses civilians who receive their remuneration from Defence estimates, including contingent paid staff and contract employees engaged for civil posts within the basic pay scales, under standard terms and conditions of contract employment.  

    Individuals whose gross monthly salary falls below the newly established minimum wage of Rs32,000 will be entitled to receive the difference as a “special allowance.” 

    It is worth noting that the government had previously announced an increase in financial compensation for individuals hired from the private sector for MP1, MP2, and MP3 positions within the bureaucracy earlier in the same month. 

    The revised minimum wage regulations will be in effect from July 1, 2023. 

  • You can now renew your passport online, no office visit needed

    You can now renew your passport online, no office visit needed

    Federal Interior Minister Rana Sanaullah has officially announced the introduction of an online passport renewal service. This new initiative is set to revolutionise the passport renewal process and address the longstanding grievances of citizens who previously faced challenges due to long queues and extensive waiting times at government offices.

    The announcement was communicated through the official Twitter account of Federal Interior Minister Rana Sanaullah, indicating the government’s commitment to streamlining administrative processes for the public. With the implementation of this hassle-free e-passport facility, citizens can now conveniently renew their passports from anywhere without the need to physically visit a government office.

    By embracing the online platform for passport renewal, the government aims to eliminate the tedious and time-consuming process of visiting passport offices, which has been a point of frustration for many applicants in the past. The introduction of the e-passport renewal facility marks a significant step towards enhancing public service efficiency and ensuring a smoother experience for citizens.

    Prior to this digital transformation, obtaining a renewed passport was a daunting task for citizens, as long lines stretching outside passport offices were a common sight. The inefficiencies inherent in the previous system often resulted in unnecessary delays and inconveniences for applicants. With the implementation of the new online renewal system, such challenges are poised to become a thing of the past.

    In conclusion, the introduction of the online passport renewal service represents a commendable effort by the government to embrace technological advancements and cater to the evolving needs of the public. By offering citizens the convenience of renewing their passports from the comfort of their homes, this initiative is a testament to the government’s commitment to enhancing citizen-centric services and streamlining bureaucratic processes.

  • Here are the revised diesel and petrol prices effective July 16, 2023

    Here are the revised diesel and petrol prices effective July 16, 2023

    Finance Minister Ishaq Dar announced on Saturday that the prices of petrol and diesel will be reduced in the upcoming fortnightly review.

    During a televised address, the minister said that petrol prices will be reduced by Rs9 per litre, while diesel prices will see a decrease of Rs7 per litre. These adjustments were made due to changes in the international market over the past 15 days, with one petroleum product’s price increasing and the other decreasing.

    Following these revisions, the new price for petrol will be Rs253 per litre, and high-speed diesel (HSD) will be priced at Rs253.50 per litre. Minister Dar clarified that the petroleum development levy (PDL), which was previously raised to Rs60 per litre in response to the International Monetary Fund’s (IMF) request, will remain unchanged.

    The new prices will take effect on July 16, Sunday. Minister Dar also highlighted that the local currency has strengthened against the US dollar in the last 15 days, following Pakistan’s successful negotiation of a $3 billion Stand-By Arrangement (SBA) with the IMF.

    Here are the new diesel and petrol prices effective from tomorrow (July 16, 2023):

    Petroleum Product Previous Price Reduction Revised Price
    Petrol Rs263 per litre Rs9 per litre Rs254 per litre
    Diesel Rs260.50 per litre Rs7 per litre Rs253.50 per litre
  • Govt keeps petrol price unchanged, implements Rs7.50 hike in diesel rate

    Govt keeps petrol price unchanged, implements Rs7.50 hike in diesel rate

    The Finance Minister, Ishaq Dar, announced that the price of petrol will remain unchanged while the price of diesel will see an increase of Rs7.50 per litre for the next fortnight. 

    During a late-night press conference, Minister Dar clarified that there would be no adjustments made to the price of petrol, but the price of diesel would experience a rise of Rs7.50 per litre. The revised price for diesel will take effect from 12:00 am on July 1.

    As per the government’s announcement, the existing price of petrol, as of June 30, 2023, will be maintained at Rs262 per litre. There will be no change in the petrol price. 

    On the other hand, the existing price of diesel, also as of June 30, 2023, stands at Rs253 per litre. However, starting from July 1, 2023, the new price for diesel will be Rs260.50 per litre, reflecting an increase of Rs7.50 per litre.

    It is worth noting that earlier reports had indicated a potential increase of Rs5 in the Petroleum Development Levy (PDL) for both petrol and diesel, scheduled to be implemented on July 1. 

    The government had been considering raising the petroleum levy from Rs50 to Rs55 per litre for both fuels. The adjustment in the PDL is set to commence at the start of the next fiscal year.

    To enable this change, the government has sought the authority to amend the Petroleum Products (Petroleum Levy) Ordinance, 1961 (XXV of 1961), specifically in the Fifth Schedule, column (1), through the Finance Act 2023-24. This amendment grants the government the power to adjust the petroleum levy as required.

  • Petrol price slashed by Rs8 to Rs262 per litre for next fortnight

    Petrol price slashed by Rs8 to Rs262 per litre for next fortnight

    In a televised address on Wednesday, Finance Minister Ishaq Dar announced a significant reduction in the prices of petroleum products by the federal government.

    Effective from 12 am tonight, the price of petrol will be lowered by Rs8 per litre, bringing it down to Rs262 per litre. Similarly, the price of diesel will be reduced by Rs5 per litre, making it Rs253 per litre.

    Minister Dar said that these revised prices would remain unchanged for the next fortnight, providing stability and predictability for consumers. He further stated that this reduction in prices is part of a cumulative effort, as the government has already decreased the prices of petrol and diesel by Rs20 and Rs35 per litre respectively throughout the month of May.