Former Prime Minister and Awaam Pakistan President Shahid Khaqan Abbasi on Saturday urged the government to deregulate petroleum prices and accelerate electric vehicle (EV) adoption. Abbasi said rising global oil prices, triggered by the US-Israel war on Iran, have pushed fuel prices in Pakistan to record highs, affecting millions of consumers and the overall economy. He called for market-based pricing and EV incentives as a long-term solution to mitigate economic pressure.
Addressing a press conference in Islamabad, Abbasi highlighted petrol price surges from Rs266.17 to Rs378 per litre and high-speed diesel from Rs280.86 to Rs520.35. He criticized the government for inconsistent policies and argued deregulation would curb hoarding while ensuring transparency. He cited China’s EV incentives as a successful example Pakistan could emulate, particularly for motorcycles and public transport.
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Abbasi also questioned provincial decisions to make public transport free or distribute funds, claiming high corruption levels prevent significant benefits from reaching the public. “Not even Rs20 billion out of Rs200 billion announced would reach citizens,” he said, stressing that structural reforms and policy consistency are urgently needed.
He recalled Pakistan’s “solar revolution” achieved without government interference and criticized repeated policy reversals in net-metering and independent power producer regulations. Abbasi described these shifts as “elite capture” and urged the government to formulate permanent energy policies that address long-term challenges, rather than reacting to immediate crises.
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The remarks came after the government recently raised petrol and diesel prices by 43% and 55% to offset global oil shocks, prompting opposition criticism and public protests. Prime Minister Shehbaz Sharif later reduced the petrol levy by Rs80 per litre, temporarily lowering prices for consumers to Rs378 per litre.