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Pakistan Anticipates New Year’s Gift: Further Reduction Expected in Petroleum Prices

The interim federal government is contemplating providing New Year’s relief to the public by reducing the price of petrol for the next 15 days.

Reports indicate an expected decrease of 1.72 rupees per liter in petrol prices, while the price of high-speed diesel is anticipated to rise by about 1 rupee per liter.

The government is set to announce the new prices of petroleum products on December 31. If these adjustments are implemented, the projected petrol price in Pakistan would be Rs265.62 per litre, and diesel is expected to be priced at Rs277.21 per litre following the anticipated increase.

The revised petroleum prices are scheduled to take effect from January 1st, with the official announcement expected after 11 pm on Sunday, December 31. These adjusted prices will be applicable nationwide.

At present, petrol in Pakistan is priced at Rs267.34 per litre, and diesel is priced at Rs276.21 per litre. It’s noteworthy that these prices will remain in effect until the end of 2023, specifically until the night of Sunday, December 31, 2023.

On a global scale, oil prices experienced minimal changes on Tuesday, with investors focusing on geopolitical tensions in the Middle East and expressing optimism about the U.S. Federal Reserve initiating interest rate cuts. This optimism is seen as potentially boosting global economic growth and fuel demand.

President Approves Removal of Ahad Khan Cheema as Adviser to PM Following ECP Order

In another development, President Dr. Arif Alvi approved the removal of Ahad Khan Cheema as an adviser to the prime minister on establishment.

Last week, the Election Commission of Pakistan (ECP) instructed Cheema’s removal after hearing a petition seeking the removal of Cheema, Privatisation and Inter-provincial Coordination Minister Fawad Hassan Fawad, and Principal Secretary to the Prime Minister Dr. Tauqeer Hussain Shah.

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The petition, filed by Advocate Syed Azizud Din Kaka Khel in October, argued that the presence of these individuals in the caretaker government jeopardized the transparency of elections.

In a brief order, the ECP deemed the petitioner’s request for Cheema’s removal reasonable, emphasizing that his affiliation with the previous government could potentially influence the fairness of elections.

According to a press release from the presidency, President Alvi’s approval for Cheema’s removal came after caretaker Prime Minister Anwaarul Haq Kakar submitted a summary in compliance with the ECP’s directives.

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I am a dynamic professional, specializing in Peace and Conflict Studies, Conflict Management and Resolution, and International Relations. My expertise is particularly focused on South Asian Conflicts and the intricacies of the Indian Ocean and Asia Pacific Politics. With my skills as a Content Writer, I serve as a bridge between academia and the public, translating complex global issues into accessible narratives. My passion for fostering understanding and cooperation on the national and international stage drives me to make meaningful contributions to peace and global discourse.

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