ISLAMABAD:
In a major relief measure for the aviation sector, the government has significantly reduced jet fuel prices, a move that is expected to reduce airline operating costs and potentially lead to reduced airfares for passengers.
According to official sources, the price of jet fuel used by large commercial aircraft has been reduced by Rs 48.80 per liter, bringing the new rate to Rs 283.52 per litre.
The reduction is a substantial relief package for Pakistani airlines and airlines, which are facing high operating expenses due to fluctuating fuel costs.
Officials said the latest drop raises the possibility of a corresponding reduction in airfares on domestic and international routes, although carriers have yet to make official announcements.
Sources further revealed that the government has cumulatively reduced jet fuel prices by Rs 283 per liter from their maximum levels. The price of jet fuel increased significantly during regional tensions and conflict-related uncertainties, reaching a record high of Rs 517 per liter.
However, before the outbreak of conflict in the Middle East, jet fuel was sold at Rs 188 per liter on February 28. Aviation industry players believe that the latest reduction will ease financial pressure on airlines and support the recovery and growth of the country’s airline sector.
The federal government also announced a significant reduction in oil prices on Friday, reducing petrol and high-speed diesel by Rs 22 per liter.
Prime Minister Shehbaz Sharif had earlier promised that the aid would be passed on to the public as soon as fiscal space was available. Officials said this commitment has now been fulfilled and is being presented as an “Eidul Azha gift” to the public on the third day of the festival.
The Prime Minister also noted that similar relief was provided the previous week when fuel prices were reduced, reiterating that easing the burden on consumers remained a top priority of the government.
