PM Sharif had sought a summary to reduce price of petroleum products.
Petrol price likely to go down by Rs10. Federal Government is likely to slash prices of petroleum products by Rs25 in a bid to provide relief to masses.
According to details, the cut will be announced after consulting the federal cabinet. Prime Minister Shehbaz Sharif has also sought recommendation to provide relief to public amid soaring inflation.
A day earlier, PM Sharif had sought a summary to reduce price of petroleum products and said the government would pass on the full relief to the consumers who had been sacrificing owing to the rise in petroleum prices.
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He asked the ministries of finance and petroleum to present a summary to him for approval, adding that the people deserved relief after passing through difficult times.
PM Sharif had sought a summary to reduce price of petroleum products.
Finance Minister Miftah Ismail has said that the new petrol and diesel prices may be announced today.
IMF programme
In a statement, Head of Prime Minister of Pakistan’s Strategic Reforms, Salman Sufi said that the relief measure will have no impact on the IMF program.
“It is strictly due to the petroleum prices reduction in International market.
As the prices fall further internationally, prices shall reflect that in Pakistan.”
What could be the new petrol price?
In a major relief to the inflation-hit citizens, the government is expected to announce Rs10 and Rs25 decrease in prices of petrol and diesel respectively, said the Petroleum Division.
The prices of petroleum products could not be reviewed ahead of July 16, adding that the Federal cabinet’s nod will be required to pass on the benefit of reduced oil prices in the global market to the consumers immediately.
