Govt cuts petrol price by Rs5.66, diesel by Rs1.39 per litre

News Desk

Islamabad: The government on Wednesday announced a reduction in petroleum product prices for the next fortnight, effective from midnight tonight (Thursday).

According to an official notification, the price of petrol has been slashed by Rs5.66 per litre, bringing it down to Rs263.20 per litre. The price of high-speed diesel (HSD) has been reduced by Rs1.39 per litre, setting the new rate at Rs275.41 per litre.

Similarly, kerosene oil has been cut by Rs3.26 per litre, while light diesel oil (LDO) has seen a decrease of Rs2.74 per litre.

The revised rates will remain in effect for the next 15 days.

Read More: https://thepenpk.com/pakistan-holds-first-e-balloting-for-40000-e-bikes/

In a landmark step toward green mobility, the Ministry of Industries and Production (MoIP) on Wednesday conducted Pakistan’s first-ever e-balloting under the Pakistan Accelerated Vehicle Electrification (PAVE) Scheme, allocating 40,000 subsidized electric two-wheelers and 1,000 three-wheelers to citizens nationwide.

The digital balloting—supervised by a designated oversight committee—was carried out through the PAVE Online Portal to ensure transparency and fairness. Out of 269,161 applications received, 41,000 successful applicants were selected.

Federal Secretary MoIP, Saif Anjum, hailed the initiative as a “green transport revolution,” saying it would cut Pakistan’s annual fuel import bill by $1 billion and reduce 4.5 million tons of carbon emissions by 2030.

He said the move aligns with the National Electric Vehicle Policy (NEVP), which targets 30% of all new vehicle sales to be electric by 2030.

Under the scheme, buyers of two-wheelers will receive subsidies of Rs 50,000 (leasing) or Rs 80,000 (self-financed), while three-wheeler buyers will be supported with Rs 200,000 (leasing) or Rs 400,000 (self-financed).

Anjum added that the PAVE Scheme would also create over 100,000 green jobs, boost local manufacturing, and strengthen Pakistan’s industrial base.