Pakistan, April 16 -- The government of Prime Minister Shehbaz Sharif has stopped a potential fuel price reduction. Officials confirmed that by amending the Petroleum Products (Petroleum Levy) Ordinance 1961, they blocked a decrease of about Rs10 per litre. As a result, the petroleum levy on petrol and diesel has now increased to Rs80 per litre.

Previously, the government had been charging the maximum permissible levy of Rs70 per litre. This new law ensures that fuel prices remain unchanged despite falling global prices. The government aims to prevent a price drop that could lead to increased demand and higher carbon emissions.

In the global market, petrol and diesel prices have recently decreased by around $6 and $5 per barrel. The pri...