The price of petrol may drop by Rs14 per litre.
The government chooses to keep petroleum prices the same in spite of predictions from the world market.
ISLAMABAD Contrary to predictions that they will drop by as much as Rs14 a litre over the next two weeks due to changes in the global market, the government decided on Saturday to maintain the current level of petroleum prices.
Prime Minister Shehbaz Sharif made the decision to lower energy rates using the additional fiscal space.
The administration decided to leave the pricing the same, according to an official statement issued on Saturday.
The announcement also stated that the prime minister has made the decision to lower electricity rates using the additional funds, indicating a significant public relief in the days ahead.
The price of petrol per litre would stay at Rs255.63.
Kerosene, light diesel oil, and high-speed diesel would all continue to be priced at Rs168.13, Rs153.34, and Rs258.64, respectively.
In accordance with the worldwide market trend, the industry’s calculations, which were submitted to the petroleum division a few days ago, suggested a reduction in petroleum prices of up to Rs14.16 per liter.
It was projected that the ex-depot price of diesel will decrease by Rs8.70 and that of gasoline by Rs14.16 per liter.
The price of light diesel oil was reduced by Rs7.12 and the price of kerosene by Rs10.33 per liter.
Prime Minister Announces Relief Measures to Ease Financial Burden on Consumers with Lower Electricity Tariffs
According to the PM office statement, the action was a component of a larger plan to lessen the financial strain on customers who are dealing with exorbitant power bills.
The prime minister declared, “We have chosen to keep fuel prices at their current level and transfer the full financial benefit to electricity tariffs.”
A official announcement about the aid package’s specifics is anticipated shortly, the statement continued.
In his speech to the country in the upcoming weeks, the prime minister is probably going to unveil these relief measures.
According to the statement, officials were working on a structured relief package and were nearing completion of a precise plan to reduce electricity bills.
He emphasized that a “meaningful reduction” in power tariffs would result from this approach in conjunction with other initiatives.
PM Shehbaz emphasized that the decrease in electricity prices would affect inflation and maybe ease pricing pressures throughout the economy.
“In addition to directly benefiting consumers, lower power tariffs will also aid in reducing overall inflation.”
The prime minister went on to say that his government has made public assistance a top priority since taking office last year.
He reiterated the pledge to continue helping the masses in the upcoming weeks.
