Diesel Price Set for Major Cut of Up to Rs 32 Per Litre, Minister Says
ISLAMABAD: The federal government has decided to provide major relief to consumers by reducing the price of diesel by up to Rs32 per litre, Petroleum Minister Ali Pervaiz Malik said on Wednesday.
Speaking about the latest development, the petroleum minister said the government was aware of the difficulties being faced by the public and was taking every possible step to provide immediate relief.
Ali Pervaiz Malik said oil refineries had agreed to reduce the price of diesel by between Rs30 and more than Rs32 per litre following discussions with the government. He said the benefit of the reduction would be passed on to consumers.
The minister explained that the government was working to protect consumers from the impact of rising fuel prices and supply-related challenges. He also highlighted the government’s decision to provide subsidies on petroleum products as part of its efforts to reduce the financial burden on the public.
According to the minister, the recent increase in petroleum prices was linked to the escalation of the ongoing conflict and resulting disruptions in global energy supplies. He said several countries were also facing difficulties in securing adequate diesel supplies.
Ali Pervaiz Malik expressed hope that the current difficult situation would gradually improve and that the government would continue taking measures to provide relief to the people.
The announcement comes shortly after Prime Minister Shehbaz Sharif directed the petroleum minister to take immediate measures to reduce fuel prices and provide relief to consumers.
During a meeting with Ali Pervaiz Malik, Prime Minister Shehbaz instructed him to travel to Karachi and hold urgent negotiations with local oil refineries over the price of locally produced diesel.
The prime minister noted that a significant portion of Pakistan’s diesel is produced by local refineries and stressed that every possible step should be taken to bring down its price.
He directed the petroleum minister to personally meet representatives of the refineries and conclude the negotiations as soon as possible.
Information and Broadcasting Minister Attaullah Tarar, Economic Affairs Minister Ahad Khan Cheema, Climate Change Minister Dr Musadik Masood Malik and National Assembly member Hamza Shehbaz also attended the meeting.
The expected reduction in diesel prices is likely to provide relief to motorists, transporters, businesses and consumers, as diesel costs directly affect transportation and the prices of goods and services.
The government has emphasized that the reduction agreed with refineries should be passed on to the public as quickly as possible.
