Finance Division says decision taken in line with PM Imran Khan’s last fortnightly review.
Decision would mean that the government will bear the additional burden of Rs30 billion for the fortnight.
Last month, Prime Minister Imran Khan announced slashing the petrol and diesel price by Rs10 per litre.
In line with Prime Minister Imran Khan’s decision, the Finance Division announced in its fortnightly review that petrol prices would remain unchanged throughout the country.
“In line with the decision of the prime minister in the last fortnightly review, the petroleum product prices to remain unchanged despite abnormal price increase in the international market,” said a statement issued by the Finance Division.
The statement added that decision would mean that the government will bear the additional burden of Rs30 billion for the fortnight (March 16-31, 2022).
Product
New Prices w.e.f. 16-03-2022
New Prices w.e.f. 01-04-2022
Increase / (-) Decrease
MS (Petrol)
149.86
149.86
0
High Speed Diesel (HSD)
144.15
144.15
0
Kerosene (SKO)
125.56
125.56
0
Light Diesel Oil
118.31
118.31
0
Last month, Prime Minister Imran Khan announced slashing the petrol and diesel price by Rs10 per litre.
At the outset of his speech, PM Imran Khan had announced that everybody was of the view that increasing commodity and oil prices were a temporary phenomenon; however, in line with the ongoing situation in Ukraine, the government realised that prices would not fall in the international market.
Criticising the Opposition for hurling unnecessary allegations at the PTI-led government, the PM had asked them to come forward with solutions to address the petrol issue.
PM Imran Khan further had said that since Pakistan imports petrol, if the prices increase in the international market, there is nothing the government could do.
Sharing details of petrol prices in other countries, the premier had said that “in Pakistan, the price of petrol is still the lowest in the world.”
Among 190 countries, Pakistan stands at number 25 in terms of lowest petrol and diesel prices,” he had said.
The premier had further added that in Pakistan, the price of petrol is Rs160 per litre, while the price of petrol in India is Rs260, Rs185 in Bangladesh and Rs 200 in Turkey.
“If the government stops providing subsidies worth Rs70 billion, every worth then the price of petrol in Pakistan would have been Rs220 per litre,” he had said.
The premier further said that he received a summary from the Oil and Regulatory Authority (OGRA) to increase charges by Rs10 per litre keeping in view the price hike in the international market.
“In order to provide relief to the people, I want to announce that instead of increasing the price of petrol and diesel we are reducing it by Rs10 per litre,” he had said.
The premier had further announced that the prices would not be increased until the next budget, which is scheduled in June.
As of February 14, Pakistan’s total liquid foreign reserves were $15,947.9 million, with the State Bank of Pakistan’s (SBP) holdings being $11,201.5 million.
Official figures for the week ending February 14, 2025, show that the central bank’s liquid foreign exchange reserves rose by $35 million to $11,201.5 million.
Commercial banks maintained net foreign reserves of $4,746.4 million during the period under review, according to the breakdown of foreign reserves.
The nation’s total liquid foreign reserves as of the week ending February 07, 2025, were $15,862.6 million.
Of these, the central bank held $11,166.6 million in foreign reserves, while commercial banks kept $4,696 million in net reserves.
Remittances under the Roshan Digital Account (RDA) increased from US $9.342 billion at the end of 2024 to US $9.564 billion by the end of January 2025.
The most recent data issued by the State Bank of Pakistan (SBP) revealed that remittance inflows in January totaled US$222 million, compared to US$203 million in December and US$186 million in November 2024.
Millions of Non-Resident Pakistanis (NRPs), including those who own a Non-Resident Pakistan Origin Card (POC), desire to engage in banking, payment, and investing activities in Pakistan using these accounts, which offer cutting-edge banking options.
Nearly 778,697 accounts were registered under the scheme by the end of January 2025, according to the data.
By the end of January, foreign-born Pakistanis had contributed US $59 million to Roshan Equity Investment, US $479 million to Naya Pakistan Certificates, and US $799 to Naya Pakistan Islamic Certificates.
A year-by-year breakdown of the depreciation value of residential and commercial built-up properties is included in the updated property valuation rates for Karachi that the FBR has announced.
The notification said that built-up structural values on residential property will be gradually reduced.
A residential home’s built-up structure, which is five to ten years old, will lose five percent of its worth.
In a similar vein, constructions between the ages of 10 and 15 will lose 7.5% of their value, while those between the ages of 15 and 25 would lose 10%. Built-up structures that are more than 25 years old will be valued similarly to an open plot.
Furthermore, age will also be used to lower the valuation of built-up properties, such as apartments and flats.
Structures that are five to ten years old will depreciate by ten percent, while those that are ten to twenty years old will depreciate by twenty percent. A 30% depreciation will be applied to properties that are 20 to 30 years old, while a 50% reduction will be applied to those that are above 30 years old.
In terms of commercial built-up properties, buildings that are 10 to 15 years old will lose 5% of their value, while those that are 15 to 25 years old will lose 8%. The value of properties that are more than 25 years old will drop by 10%.
In contrast, there would be a 15% boost in the value of commercial properties in the Defence Housing Authority (DHA) that face any Khayaban.