There maybe a good news for masses as Prime Minister Shehbaz Sharif’s Head of Strategic Reforms, Salman Sufi, has said that the government is going to reduce petrol prices. In a tweet, Sufi said: “PM Shehbaz Sharif has directed to reduce petroleum prices in the country.” Sufi added that the prime minister has directed the concerned ministry to direct full benefit of reduced worldwide oil prices as is to the people.”
Announcement
PM @CMShehbaz has directed to reduce petroleum prices in the country.
PM has directed the concerned ministry to direct full benefit of reduced worldwide oil prices as is to the people. #ReliefMeasures
— Salman Sufi (Wear A Mask To Save Lives) (@SalmanSufi7) July 12, 2022
He further said that the price reduction will not impact ongoing IMF program. “It is strictly due to the petroleum prices reduction in International market. As the prices fall further internationally, prices shall reflect that in Pakistan,” he tweeted.
The relief measure will have no impact on IMF program.
It is strictly due to the petroleum prices reduction in International market.
As the prices fall further internationally, prices shall reflect that in Pakistan.
— Salman Sufi (Wear A Mask To Save Lives) (@SalmanSufi7) July 12, 2022
As per economic experts, the petrol price may go down by Rs. 20-25/liter and diesel rate could reduce by Rs. 30-40/liter and it will be a considerable relief for the people.
However, there is another rumor circulating that the government is taking the step due to upcoming by-elections in Punjab. The elections are going to be held on July 17 and government is trying to win the vote. The reports suggested that the prices will go up once again after the polls. Let’s see what would happen regarding the prices.
PAC Recommends Petrol Prices Reduction
Before Eid, Public Accounts Committee (PAC) had asked the government to reduce petrol prices. During a PAC meeting, Chairman Noor Alam Khan stated that the price of petrol is decreasing in globally. “When the price is low in global market, why is it not lower in our country?” he asked. Khan further said that when the prices go up internationally, it goes up here but doesn’t come down accordingly.
He also noticed that international prices have come down twice, however, the government has increased instead of reducing them. “I request Ministry of Finance and the government to provide relief to people,” Khan said.
The committee member Sheikh Rohail told PAC that the international prices have come down by Rs. 50 per liter. “But IMF is asking the government to increase the sales tax,” he mentioned.
What do you think about the reduction of petrol prices? Please share your thoughts in the comments section.
