PM seeks to slash petrol and diesel prices

Prime Minister Shahbaz Sharif announced through his official twitter that he will be seeking the summary to reduce the price of petrol, diesel and other fossil fuels to reduce the burden from the nation after the overall price reduction of Brent crude in the international market. 

The meeting was attended by officials from Oil and Gas Regulatory Authority (OGRA) and other ministries and departments. The  prime minister was chairing a meeting at the PM Office on tuesday, 12th July 2022.

People have made sacrifices they should reap the benefits of this,

Information Minister Mariam Aurangzeb said on the PM’s behalf.

The prices of international Brent crude has fallen below $100 mark after various international variables including low demand, and economic uncertainty.

PM Shahbaz further said,

The price reduction seen internationally should be transferred to the people with full transparency,

He also mention that the reduction in the prices of diesel and petrol will be a “gift to people on the occasion of Eid ul Adha”

Only two week ago the current government added Rs18.83 per litre on account of petroleum levy on some of the POL products. The government expressed its concerns over the potential payment of Rs1.20 trillion in the shape of subsidy in case the prices are not increased at the time.

Govt approves Rs50 in petroleum levy

Leave a Reply