Rs80 | Pakistan

Prime Minister Shehbaz Sharif announced on Friday that the government was reducing the petrol levy by Rs80 per litre, after which the commodity would be available to the end consumer for Rs378 per litre. He said the new price would take effect at 12am on Saturday. The premier said this in a televised address to the nation a day after the government announced an unprecedented increase of 43 per cent and 55pc in the prices of petrol and high-speed diesel (HSD), respectively. Petroleum levy rates were adjusted to limit the increase in diesel prices — which stand at RsRs520.35 — and its impact on transportation and freight costs. The levy on petrol was increased to Rs160 per litre from Rs105, while it was reduced to zero on diesel from Rs55, sources had told Dawn. Consequently, the petrol price had increased to Rs458 per litre. The premier said after the reduction in levy, the petrol price would now reduce to Rs378 per litre and would remain unchanged for at least one month. The new price would be effective acros...

ISLAMABAD: Pakistan’s total public debt rose by 13 per cent to Rs80.6 trillion by the end of FY25, driven mainly by a fiscal deficit of Rs7.1tr and slower-than-expected GDP growth, according to the Ministry of Finance (MoF). In its Annual Debt Review 2025, the MoF said the debt-to-GDP ratio increased to 70pc, up from 68pc a year earlier. This was attributed to a lower nominal GDP growth rate, resulting from reduced inflation, which limited economic expansion and pushed the ratio higher despite efforts at fiscal consolidation. The MoF noted that while interest expenses rose by 9pc year-on-year, this increase was significantly lower than the 43pc recorded in the previous fiscal year. Total domestic debt stood at Rs54.5tr, and external debt at Rs26tr — both reflecting a 13pc annual increase. The average time to maturity (ATM) for domestic debt improved from 2.8 years in FY24 to 3.8 years in FY25. External debt ATM remained above six years, consistent with the government’s Medium-Term Debt Strategy 2026–28. The e...