Proposed fiscal reforms for automotive fuels Petrol Increase selling price before state taxes and duties by Rs 2.50 per litre each month to align with full cost price Total increase of Rs 10.90 per litre in selling prices before taxes Temporary reduction in excise duty to Rs 10 per litre to be restored by March 2009 Total increase of Rs 11.28 per litre before

A committee recommends rationalization of diesel and petrol prices The long awaited pricing formula for petroleum products to bail out the oil industry from impending bankruptcy has been tabled. If put into effect this prescription can correct distorted prices of automotive fuels of petrol and diesel and halt misuse of under-taxed and under-priced diesel by the car sector. This is

Petrol price hiked again: Pakistan

Coping strategies: countries adjust to all-time-high oil prices Bangladesh increased fuel prices for the first time since April 2007. The government maintained subsidies on diesel and kerosene, used predominantly by the poor. Texan motorists, in search of cheap gas, crossed the border into Mexico, which subsidizes its fuel. Indian truckers went on strike from July 2 to 4,

Rising petroleum prices would affect Pakistan's agriculture sector as farmers depend on fuel to operate their tube-wells to get irrigation water the prime requirement for the growth of crops.

'Due to inadequate canal system, farmers are dependent on electric and diesel run tube-wells for irrigation but price escalation of oil would have negative impact on their production,' the Secretary General, Kisan Bachao Tehreek, Ahmed Noor Advocate told APP.

the Union Ministry of Finance imposed an additional duty of Rs 15,000 to Rs 20,000 per vehicle on big cars and utility vehicles on June 13. The decision comes as a knee-jerk reaction to the skyrocketing international crude prices. While welcoming the move as a step forward, experts said staving off an energy crisis would require making the tax progressively harsher and linking it with fuel

Pakistan introduces daylight saving time to battle power shortage: In a bid to reduce load shedding, the Pakistani government on May 14 announced that the country will forward its clock by an hour

Move Meant To Distance Itself From Hike In Fuel Prices Kolkata: Desperate to distance itself from the decisions of the Congress-led UPA government at the fag end of its tenure, West Bengal's Left Front government is slashing sales tax on petrol from 25% to 20% and on diesel from 17% to 12.5%. The cost of the