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 a reduction in 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 litre, bringing the new price down to Rs 283.52 per litre.
The reduction is a substantial aid package for Pakistani airlines and aviation companies, which have been facing high operating expenses due to fluctuating fuel costs.
Officials said the latest decline raises the possibility of a corresponding reduction in airline ticket prices on domestic and international routes, although airlines have not yet made formal announcements.
Sources further revealed that the government has cumulatively reduced jet fuel prices by Rs 283 per liter from their peak levels. The price of jet fuel had risen sharply during regional tensions and conflict-related uncertainties, reaching a record high of Rs 517 per litre.
However, before the outbreak of conflict in the Middle East, jet fuel was selling at Rs 188 per liter on February 28. Aviation industry stakeholders believe the latest reduction will ease financial pressure on airlines and support the recovery and growth of the country’s air transport sector.
The federal government on Friday also announced a significant reduction in oil prices, cutting both petrol and high-speed diesel by Rs 22 per litre.
Prime Minister Shehbaz Sharif had earlier promised that the relief would be passed on to the public as soon as fiscal space was available. Officials said the commitment has already been fulfilled and will be 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, and reiterated that easing the burden on consumers remains one of the government’s top priorities.
