PM Shebaz directs petroleum minister to Karachi over fuel prices

Business Recorder reported that Prime Minister Shehbaz Sharif instructed Petroleum Minister Ali Pervaiz Malik to go to Karachi without delay and bring in urgent relief on fuel costs. According to the Prime Minister's Office, the instruction followed a meeting attended by several federal ministers and Hamza Shehbaz. The premier wants the minister to negotiate directly with local refineries to lower the price of domestically produced diesel.

Jamaat-e-Islami had staged protests across the city against the large petroleum levy and repeated increases in fuel oil prices, including blockades on Shahrah-e-Faisal. On Tuesday, the Petroleum Division announced revised ex-depot fuel prices effective from August 19. Petrol rose by Rs3.34 per litre to Rs334.54, while high-speed diesel went up by Rs5.27 to Rs395.69 per litre.

The petroleum levy on HSD was raised to Rs78.28 per litre, whereas the levy on petrol remained at Rs80 per litre. A major portion of diesel is produced in local refineries, which is why the premier has focused on those plants. The levy figures and the new pump rates together form the backdrop to the government's relief push.