ISLAMABAD: The Prime Minister office initially announced a massive reduction in petroleum prices, but later on finance ministry announced only reduction of Rs.4.74 & Rs.3.86 per liter over Petrol & diesel respectively.
According to the finance ministry notification, the petrol price has been decreased by Rs 4.74 per liter and diesel by Rs 3.86 per liter. The new prices have been implemented from June 1.
Earlier, the Premier Shehbaz Sharif had directed the Ministry of Finance to cut the price of petrol by Rs 15.4 per liter and that of diesel by Rs 7.9 per liter.
The government’s pro-people policies have led to a notable decline in inflation and a stabilization of the economy, the prime minister said in a statement released by the PM Office.
The new petrol price would be Rs 268.36 per liter while diesel would be available at Rs 270.22 per liter. The notification would be implemented from midnight.
It should be noted that The prices of petroleum products are revised every 15 days in Pakistan adjusting them to the trend of global oil prices and the rupee’s exchange rate to the dollar. The Pakistani rupee has held steady recently.
