Further cut in petroleum prices likely, hints Khurram Shahzad

ISLAMABAD: Advisor to the Prime Minister on Finance Khurram Shahzad hinted at a further reduction in the prices of petroleum products.

In a statement, Advisor to the Prime Minister on Finance Khurram Shahzad said that it has begun and that the prices of petroleum products will further decrease in the coming days.

He said that the price of petroleum products changes according to a pattern; the way prices increase does not decrease in the same way.

It should be noted that the government has announced a significant reduction in the prices of petroleum products.

Prime Minister Shehbaz Sharif, while giving the nation good news in this regard, said that the promise made to the nation, Alhamdulillah, is going to be fulfilled.

The price of petrol is being reduced by Rs 74 and the price of diesel by Rs 67 per liter. Thus, the price of petrol per liter will be reduced from Rs 373 to Rs 299, and the price of diesel per liter will be reduced from Rs 378 to Rs 311.

He said that the reduction in oil prices in the global market is being passed on to the people, and effective measures will continue to be taken to maintain economic stability and further reduce inflation.

He added that the difficulties of the people are well understood. You have shown unparalleled patience and forbearance in difficult situations. We are deeply grateful to the people for supporting the government in these difficult circumstances.