LAHORE – As global oil supplies continue to face disruptions, Pakistan and several countries around world are feeling the pinch with soaring fuel prices.
In the midst of current oil crisis, Punjab Finance Minister Mujtaba Shuja-ur-Rehman sounded a new alarm, warning that petrol prices could skyrocket to Rs500 per litre if citizens and institutions fail to support the government’s energy-saving measures.
Punjab Finance Minister Mujtaba Shuja-ur-Rehman issued shocking warning, petrol prices in Pakistan could surge to Rs500 per litre if citizens and institutions fail to cooperate with the government’s austerity measures.
Speaking at Federation of Pakistan Chambers of Commerce and Industry, the minister revealed startling reality, despite closing institutions for three days to save fuel, consumption actually rose by 7–10%, placing an even greater strain on the national budget. He warned that stricter restrictions may soon become unavoidable.
To deal with fuel dependence, Punjab government is actively promoting electric vehicles, with FPCCI Regional Chairman Zaki Ijaz urging interest-free, zero-markup loans for five years to fast-track the transition.
However, business leaders warned that frequent restrictions on operations and shifting working hours are slashing tax revenues, dealing a heavy blow to the economy.
Punjab’s FinMin reassured industry that their concerns would be considered but stressed that energy conservation is the only solution amid the current crisis.
Meanwhile, ordinary Pakistanis may face petrol prices exceeding Rs350 per litre, as the government weighs passing global oil price surges to consumers while continuing limited subsidies for groups like farmers and bikers.
Petrol Prices to cross Rs350 Per Litre in Pakistan in April amid Global Oil Surge?
