Consumers to benefit from further fall in oil prices

Minister of State for Finance Bilal Azhar Kayani has said that petroleum prices are being reviewed on a regular basis, with any adjustments being aligned with global market trends.

He noted that petroleum levies were being rationalised and the levy on diesel currently stood at zero while petrol carried a levy of Rs80, adding that any further decline in international oil prices would be passed on to consumers.

Speaking during his visit to the Karachi Chamber of Commerce and Industry on Saturday, Kayani highlighted that Pakistan had regained access to the international Eurobond market after a hiatus of four years, reflecting renewed investor confidence in the country's economic direction.

He reiterated the government's firm commitment to achieving sustainable economic stability and accelerating export-led growth through strong public-private collaboration.

The state minister emphasised that the government was pursuing a policy framework aimed at ensuring inclusive and durable economic growth, with the private sector playing a central and leading role. He assured exporters that they would continue to receive policy support to enhance Pakistan's export performance and global competitiveness.

Kayani underscored that such interactions with the business community were vital for understanding ground realities and ensuring that policy measures remained aligned with the needs of trade and industry. He described Karachi as the backbone of Pakistan's economy, highlighting its critical contribution to industrial output, trade volumes and national revenue.

He stated that the purpose of his visit was to identify and address key impediments to economic activity, while facilitating a more enabling and business-friendly environment.