The Prime Minister Mian Nawaz Sharif earlier today announced huge reductions in prices of petroleum products including a cut of Rs 8.48 per litre in petrol, Rs 4.67 in high speed diesel, Rs 1.97 in light diesel and Rs 2.98 in high octane.
The Prime Minister also announced to maintain the price of kerosene oil by rejecting a proposal of the Oil and Gas Regulatory Authority (OGRA) for increasing the same by Rs 1.66 per litre.
Prime Minister Nawaz Sharif, in a statement, said Pakistan was the only country in the region which passed on the cut in petroleum prices to masses, whenever these are reduced in the international market.
Despite the deficit or shortfall in revenue, the government gave priority to the interest of masses and passed on every relief to them, he emphasized.
The Prime Minister said no country in the region except Pakistan had reduced the prices of petroleum products to such a low level. The proposal of Oil and Gas Regulatory Authority (OGRA) to augment the price of kerosene oil by Rs 1.66 per litre was also rejected by him because it was used by the poor.
After reduction the new price of petrol would be Rs 62.77 per litre and HSD Rs 71.12 per litre.
The Prime Minister said he also desired to reduce the burden of taxes on the masses by slashing the current rates of taxes, duties, excise duty and sales tax.
“It is our duty to serve the masses wholeheartedly and with full sincerity,” he remarked.
Similarly, the Prime Minister said besides Rs 3 per unit cut in the price of electricity, the government had also succeeded in reducing load shedding in the country during the last over two and a half years.
He said that as he had pledged the load shedding would Insha Allah be completely eliminated by year 2018.
The Prime Minister said the recent reduction of Rs. 3 per unit in the price of electricity would help make the Pakistani products
competitive in the international market and augment exports.
