The impact of the recent reduction in petroleum prices has started to emerge, as goods transporters have announced a 5% cut in freight charges to provide relief to the public.
Malik Shahzad Awan, President of the All Pakistan Goods Transport Alliance, welcomed the reduction in petrol and diesel prices and announced the decision to lower freight transportation charges.
According to Malik Shahzad Awan, freight charges are being reduced by 5% in view of the decline in petroleum prices over the past four to five days.
He said that following the reduction in fuel prices, it was essential for the transport sector to pass on the benefits to the public. He also thanked the Prime Minister and the Federal Minister for Petroleum for the reduction in fuel prices.
5% Reduction in freight charges
The decision by goods transporters is expected to reduce the cost of transporting goods across the country. Lower freight charges could also bring down transportation expenses for various commodities.
Businesses that rely heavily on goods transport vehicles for the delivery of raw materials and finished products are particularly likely to benefit from the decision.
The reduction in transportation costs could also have a positive impact on the supply chain of essential commodities.
However, the extent to which consumers benefit from lower commodity prices will depend on other business expenses and market pricing mechanisms.
New petrol and diesel prices
It is worth mentioning that the price of petrol was reduced by Rs9.41 per litre yesterday, bringing the new price to Rs352.59 per litre.
