ISLAMABAD: The government is likely to announce a significant reduction in petroleum prices today, a move that could bring much-needed relief to citizens grappling with rising living costs.
Sources say a summary proposing the price cut will be forwarded to Prime Minister Shehbaz Sharif for final approval. An official announcement is expected later tonight following his decision.
A senior government official indicated that fuel prices are poised to decline, hinting that the public can expect positive news regarding petrol and diesel rates.
The anticipated reduction is part of broader efforts to lessen the financial strain on the population amid ongoing economic pressures. Authorities aim to pass on the benefit of changes in global oil markets and currency trends to consumers.
If approved, the revised prices will apply to major petroleum products, including petrol and diesel both of which play a key role in determining transportation costs and overall inflation across the country.
