ISLAMABAD: Diesel and petrol prices in Pakistan have risen at a rate lower than the global average, according to Khurram Schehzad, Adviser to the Finance Minister. Schehzad noted that the government’s approach is to maintain a balance between fiscal sustainability and public protection amid rising international fuel prices.
According to Radio Pakistan, in a recent communication on his X handle, Schehzad highlighted that while global diesel and petrol prices have surged by twenty-seven to seventy-one percent in several countries, Pakistan has experienced a comparatively modest increase of twenty-two to twenty-four percent. He further noted that the retail tax on petroleum products in Pakistan stands at twenty-five percent, which is below the regional average of thirty-five percent. Additionally, he stated that there is currently no sales tax imposed on petrol and diesel in the country.