The federal government on Tuesday reduced the price of petrol by Rs3.19 per litre while increasing the price of high-speed diesel (HSD) by Rs2.25 per litre, amid mounting pressure from Jamaat-i-Islami (JI) to abolish the petroleum levy.
According to a notification issued by the Petroleum Division, the revised prices will take effect on Wednesday, October 28.
Following the adjustment, petrol will cost Rs376.06 per litre, while high-speed diesel will be sold at Rs398.07 per litre.
Despite the reduction in petrol prices, the government continues to impose taxes and duties amounting to Rs114 per litre on petrol and Rs100 per litre on diesel.
The price revision coincided with discussions between the federal government and Jamaat-i-Islami over measures to provide financial relief to consumers.
Earlier on Tuesday, Planning Minister Ahsan Iqbal announced that a joint committee comprising representatives of the government and JI would be established to examine proposals for expanding the existing fuel relief scheme.
The announcement followed a meeting between Prime Minister Shehbaz Sharif and JI chief Hafiz Naeemur Rehman, during which the opposition party reiterated its demand for the removal of the petroleum levy.
Speaking at a press conference in Islamabad, Iqbal said both sides shared the objective of reducing the financial difficulties faced by ordinary citizens.
He emphasised, however, that any relief package would need to be financially sustainable and consistent with the government’s available resources.
Meanwhile, Hafiz Naeemur Rehman warned that Jamaat-i-Islami would organise a protest march towards Islamabad in mid-November if the government failed to announce substantial relief on petroleum taxation by then.
The party has been demanding the abolition of the petroleum levy, arguing that the additional tax burden is contributing to high fuel prices and increasing financial pressure on households.
The government’s latest price adjustment and proposed talks with JI come as petroleum taxation remains a major point of contention between the government and opposition groups seeking greater relief for consumers.