
Diesel price slashed by Rs2/litre, petrol unchanged
Petrol was being sold at Rs272.95 per litre whereas diesel at Rs273.40 per litre earlier. PHOTO: FILE
The federal government kept the petrol price unchanged for the next fortnight while it slashed high speed diesel price by Rs2 per litre. The new prices will be applicable from May 16.
According to a notification issued by the Finance Department, the petrol will continue to be sold at Rs252.63 per litre while the high speed diesel (HSD) will be sold at Rs254.64 per litre with the decline of Rs2 per litre.
Besides, the price of kerosene oil was reduced by Rs5.04 per litre to Rs164.65 per litre and the price of light diesel oil was declined by Rs4.68 per litre to Rs150.65 per litre.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Business Recorder
15 hours ago
- Business Recorder
Agri sector witnesses dramatic slowdown: PKIC
ISLAMABAD: The country's agriculture sector has witnessed a dramatic slowdown, with growth dropping to 0.56 percent from 6.25 percent since July 2024, Pakistan Kissan Ittehad Council (PKIC) President Khalid Mehmood Khokhar said on Wednesday. Addressing at a press conference, he said that the decline in major crop yields has severely impacted both the economy and the livelihoods of farmers. He said that cotton production has dropped to 5.55 million bales — 50 percent below the government's target and 34 percent less than last year. Cotton import bill is projected to surge to $1.9 billion, up from $448 million the previous year, he said. Khokar said that the country's wheat production has also suffered, declining by 8.91 percent to 28.98 million tons from last year's 31.81 million tons. Maize production fell by 15.4 percent to 8.24 million tons, compared to 9.74 million tons in the previous year, he said. Khokhar stated that since May 2024, farmers have collectively suffered losses of around Rs2,200 billion in wheat alone — equivalent to 23.15 percent of the crop sector's contribution to GDP for the fiscal year 2023–24. The resulting financial strain has weakened farmers' purchasing power and affected the productivity of other crops as well, he said. Copyright Business Recorder, 2025


Business Recorder
3 days ago
- Business Recorder
Advisor highlights agri output decline
PESHAWAR: Advisor to the Chief Minister of Khyber Pakhtunkhwa on Finance and Inter-Provincial Coordination, Muzzammil Aslam stated that according to the federal government, there has been a 15% decline in the production of major crops, which includes a 30% decline in cotton production alone. As a result, an additional five billion dollars will need to be spent on cotton imports. Similarly, due to the drop in wheat production, 3 billion dollars will be spent on wheat imports. Overall, the decrease in agricultural output will force Pakistan to import goods worth $10 billion, representing a loss of Rs2,800 billion to the country and its farmers. He said the government had claimed that the inflation rate was 4.5% or 4.7%, but it is now admitting that inflation will rise to 7.5% next year. Muzzammil Aslam noted that Pakistan's GDP this year was Rs114 trillion, and next year it's expected to increase to Rs129 trillion. Despite this, only Rs1 trillion has been allocated for development expenditures and the federal government is not launching any new projects. Likewise, no new projects have been allocated to the provinces. Of the Rs1 trillion development budget, Rs120 billion is from savings that were not provided as fuel subsidies, which are being used to build roads in Balochistan. This means that the actual Public Sector Development Programme (PSDP) is only Rs880 billion. He further stated that under the 'Uraan Pakistan' programme, discussions were held on sports, water, and the environment, and Rs65 billion was initially allocated to higher education. This has now been slashed to Rs45 billion without any consultation with the provinces. Muzzammil Aslam pointed out that the government had earlier said that projects which are more than 75% complete would be prioritized, yet two road projects in Khyber Pakhtunkhwa that were over 90% complete have been deleted, which he called a clear injustice and raised during today's meeting. He questioned, 'If the government claims inflation is being brought down to 1%, why is the interest rate still at 11%.' He said that Rs2 to 2.5 trillion in savings from interest payments this year should be redirected to development projects but it is not happening. He said that according to the Planning Ministry, 118 development projects have been scrapped, while the government is claiming that the growth rate will be 4.2% next year, with inflation at 7.5%. Exports will not increase significantly, but imports will rise, and $39.5 billion in remittance has been estimated. Copyright Business Recorder, 2025


Express Tribune
3 days ago
- Express Tribune
Centre bypasses Punjab in DAO postings
The federal government has unilaterally appointed junior federal officers as Divisional Accounts Officers (DAOs) in all 43 districts of Punjab for the disbursement of public funds for the Public Works Department, bypassing constitutional and legal protocols and irking the Punjab Finance Department. These appointments have effectively stripped Punjab's District Accounts Officers (DAOs) of their constitutional authority over the disbursement of public funds, particularly for the Public Works Department. The move has sparked strong discontent within Punjab's Finance Department, which has raised the issue at a higher administrative level. In each district, two to three DAOs have been appointed, and they have already authorised payments exceeding Rs1 billion soon after assuming their roles. Members of the ruling PML-N have formally opposed this decision. MPA Ilyas Chinioti has submitted a motion of adjournment in the Punjab Assembly, arguing that the move violates the spirit of the 18th Constitutional Amendment, which grants provinces administrative autonomy. The motion demands that the federal government immediately withdraw its decision. The newly appointed federal officers are reportedly in grade 16 and 17, whereas Punjab's DAOs hold the more senior grade 18 posts. The reallocation of financial control to federal officers is seen as a direct infringement on provincial jurisdiction.