The federal government has decided to significantly reduce the price of diesel. Federal Minister for Petroleum Ali Pervaiz Malik said that the government is fully aware of the difficulties and hardships being faced by the people and is making every effort to provide immediate relief wherever possible. The decision to subsidise petroleum product prices is also part of these relief measures.
Speaking at a press conference alongside Minister for Information and Broadcasting Attaullah Tarar, Petroleum Minister Ali Pervaiz Malik announced that the price of diesel would be reduced by Rs 30 to Rs 32 per litre. He said the significant reduction was being made with the cooperation of the refineries, providing major relief to consumers.
Ali Pervaiz Malik said that the government’s ongoing efforts would help the country overcome these difficult times. He added that the government would make every possible effort to protect the people from the impact of rising prices. The Petroleum Minister said that petroleum product prices have increased due to the escalation of the war, while many countries are also facing difficulties in ensuring the availability of diesel.
Petroleum Minister Ali Pervaiz Malik said that the people are suffering due to the ongoing war and that the government will take every possible step to address their problems. He said that tax relief measures had been explored in consultation with the IMF, adding that the efforts being made by the country’s leadership would help overcome the current difficulties. The government, he said, would utilise all available resources to resolve the problems being faced by the people.
The Petroleum Minister said that the escalation of the war had led to a sharp increase in oil prices in the international market, while the prices of refined petroleum products had also risen significantly. He added that the war had also created difficulties in the availability of diesel in Russia, while Pakistan refines a large portion of its diesel domestically.
He said that a meeting with oil refineries was held on the instructions of Prime Minister Shehbaz Sharif. With the cooperation of the refineries, the price of diesel is being significantly reduced, he said, adding that the refineries had accepted the Prime Minister’s request. OGRA will issue a notification regarding the diesel price reduction today.
Ali Pervaiz Malik said that the Prime Minister had taken a major relief initiative, keeping in view the difficulties being faced by the people. On behalf of the government, he thanked the oil refineries for their cooperation and appealed to the public to remain patient. “We understand the pain and difficulties being faced by the people,” he said.