ISLAMABAD: Prime Minister Nawaz Sharif on Monday announced a major cut in the prices of petroleum products.According to the announcement, the petrol prices have been cut by Rs 8.48 per litre, high speed diesel prices by Rs 4.67 per litre, light diesel prices by Rs 1.97 per litre and high octane prices by Rs 2.98 per litrea major cut in the prices of petroleum products.According to the announcement, the petrol prices have been cut by Rs 8.48 per litre, high speed diesel prices by Rs 4.67 per litre, light diesel prices by Rs 1.97 per litre and high octane prices by Rs 2.98 per litre.
The prime minister announced that the prices of kerosene oil would remain unchanged although the Oil and Gas Regulatory Authority (OGRA) had moved a proposal for Rs 1.66 per litre increase in the prices.Sharif said in a statement that Pakistan was the only country in the region that passed on the decrease in the petroleum prices to the masses.
Despite the deficit or shortfall in revenue, the government gave priority to the interests of the people and passed on the relief to them, he said.The new prices of petrol would be Rs 62.77 per litre and HSD Rs 71.12 per litre. The prime minister said he also wanted to decrease the burden of taxes on the people.
