ISLAMABAD: The federal government on Friday announced a major reduction in petroleum prices, cutting both petrol and high-speed diesel (HSD) rates by Rs22 per litre.
According to a statement issued by the Prime Minister’s Office (PMO), the reduction has been announced as a “gift to the nation” on the third day of Eid-ul-Azha.
Prime Minister Shehbaz Sharif said that providing relief to the public remains one of the government’s top priorities.
Following the latest reduction, the price of petrol has been fixed at Rs381.78 per litre, down from Rs403.78, while the price of high-speed diesel has been reduced from Rs402.78 to Rs380.78 per litre.
The PMO statement noted that the government had also reduced petroleum prices last week as part of its ongoing efforts to provide relief to the people.
It further stated that despite difficult economic conditions, the federal government continued providing subsidies on fuel for public and goods transport, as well as for motorcycle and rickshaw users.
According to the statement, during the peak of the global oil crisis, the prime minister had approved a subsidy of more than Rs130 per litre to prevent a rise in domestic fuel prices and ensure relief for consumers across the country.
