Govt to announce over Rs30 reduction in diesel price after refinery talks
The government on Wednesday announced a significant reduction of more than Rs30 per litre in the price of diesel following successful negotiations with oil refineries aimed at providing relief to consumers amid elevated global fuel prices. Petroleum Minister Ali Pervez Malik said refineries had agreed to the government’s request to reduce the price of locally produced diesel by more than Rs30 to…
The Pakistani government has announced a substantial decrease of over Rs30 per litre in diesel prices, following productive discussions with oil refineries, according to Petroleum Minister Ali Pervez Malik. The price cut, which could reach Rs32 per litre, aims to provide relief to consumers amid high global fuel costs, particularly as the Middle East conflict has driven up international oil prices.
The government's negotiations with refineries were directed by Prime Minister Shehbaz Sharif, who tasked the petroleum ministry to secure relief measures for the public. The final reduction will be confirmed by the Oil and Gas Regulatory Authority (OGRA) after conducting its calculations. Information Minister Attaullah Tarar confirmed that the PM had authorized the negotiations, emphasizing the significant impact this price reduction could have on the economy, especially for sectors reliant on diesel, like transportation.
Tarar highlighted the government's history of providing subsidies and targeted relief, having spent Rs130 billion to mitigate fuel price hikes during economic hardships. The reduction is expected to positively affect economic activity and provide immediate relief to the public.
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