PM Shehbaz Sharif to announce cut in petrol prices soon

By Muhammad JuniadPublished On 05 Jan 2023

Prime Minister Shehbaz Sharif summoned a summary from the Ministries of Finance and Petroleum recommending a reduction in the price of petroleum products after the oil price decreased in the international market.

The PM summoned a summary for a reduction in the oil prices while chairing a meeting at the PM Office. The meeting was attended by officials from OGRA and other ministries and departments.

“People have made sacrifices they should reap the benefits of this,” PM was quoted by Information Minister Marriyum Aurangzeb on Twitter. She also quoted the PM as saying that the people have gone through difficult times and it is their right to get the “complete benefit” of the price reduction.

“The price reduction seen internationally should be transferred to the people with full transparency,” said the PM. He assured the nation that his government will continue to work to reduce the inflation that was imposed due to the actions of his predecessor.

The directives came two days ahead of the fortnightly summary presented to the prime minister on prices of the petroleum products. The government notifies changes in oil prices on the 1st and 15th of each month.

Head of Prime Minister's Strategic Reforms Salma Sufi assured the people that the £relief measure will have no impact on IMF programme".

"It is strictly due to the petroleum prices reduction in the international market. As the prices fall further internationally, prices shall reflect that in Pakistan," said Sufi.