Pakistan Railways on Saturday increased the fares of economy class and air-conditioned class tickets by five per cent and 10pc respectively, following the hike in petrol and diesel prices.

According to a statement by the Pakistan Railways spokesperson, the fares of cargo trains have also increased by 20pc

The new prices will take effect from Monday, March 9. However, the fare increase will not apply to bookings made in advance, the spokesperson said.

He further said that Pakistan Railways will bear the additional burden of operational expenses of passenger trains.

The development comes after the government increased the prices of petrol and high-speed diesel by Rs55 per litre, the highest-ever such hike as Pakistan felt the first direct economic impact of the US-Israel war on Iran.

The ex-depot price of high-speed diesel was fixed at Rs335.86 per litre for the coming week, up by about 20pc from Rs280.86 per litre. Likewise, the ex-depot price of petrol was revised to Rs321.17 per litre from Rs266.17 per litre, reflecting an increase of around 17pc.

Pakistan relies heavily on the oil supply passing through the Strait of Hormuz. The government made the decision due to a disruption in fuel supplies through the strait.