Islamabad : Unprecedented surge in oil prices have literally push many economies in the world at real risk collapse. Some countries are following a measured approach to cope with disastrous situation arising out of killing increase in the oil prices. Since break out war between Israel-US and Iran have gone up to $120 a barrel.
Pakistan is not an exception to this dangerous fall out of the ME war. Surge in the oil prices have literally shaken Pakistan’s economy , but decision-makers in Islamabad are doing firework to mitigate horrifying impact of the oil crisis.
During the last weeks, the government has not passed on the increase of the oil prices to the end consumers in Pakistan.
According to the prime minister announcement, the government had injected RS 69 billion to make adjustments in the rising oil prices.
Khurrum Shahzad , an advisor to the Finance ministry in Islamabad, has released a latest update on the government ‘s approach on the oil surge globally.
The update said in the global fuel price surge – Pakistan takes a measured approach.
It noted – Fuel prices are rising sharply worldwide, with many countries passing on steep increases – especially in diesel.
The update maintained – Pakistan’s response remains calibrated, balancing fiscal stability with protecting the public.
The following are key points of the update.
*Key highlights:*
– Global increases: 27%–71% vs Pakistan ~22–24%
– Lower taxes: ~25% vs ~35% regional average
– 0% sales tax on petrol/diesel
See full details here:
https://x.com/i/status/2036300013186199740