Pakistan Expects Major Relief as Oil Refineries Agree to Cut Diesel Prices by Rs30

ڈیزل کی قیمتوں میں تیس روپے سے زائد نمایاں کمی کا امکان

Pakistan Expects Major Relief as Oil Refineries Agree to Cut Diesel Prices by Rs30

Oil refineries have agreed to reduce the price of diesel by more than Rs30 per litre following consultations with the government, Petroleum Minister Ali Pervaiz Malik said on Wednesday. Addressing a press conference alongside Information Minister Attaullah Tarar, Malik stated that refineries decided to provide relief of Rs30-32 per litre in response to a government request.

The announcement followed directives from Prime Minister Shehbaz Sharif, who instructed Malik to travel to Karachi for talks with local refineries. The Prime Minister's Office noted that domestic refineries produce a major portion of the country's consumed diesel, prompting calls to lower prices and transfer benefits to consumers.

High-speed diesel prices have recently approached Rs400 per litre due to the ongoing US-Israel war on Iran. Because diesel powers heavy transport, agricultural machinery, and freight, its high cost drives up inflation and the prices of essential goods like vegetables.

Malik expressed gratitude to the refineries for aiding the government during the conflict and confirmed that the Oil and Gas Regulatory Authority (Ogra) would soon unveil its calculations. He added that he will hold further consultations in Karachi regarding refinery upgradation, which has been neglected for over seven decades.

Tarar emphasized that providing maximum relief remains a priority for the administration, hinting at more good news ahead. Malik attributed soaring fuel costs to the war escalation and noted that the government shifted from fortnightly to daily price reviews amid mounting public criticism over inflation.