With the fluctuating prices on the global market, the federal government is likely to reduce petrol rates by up to Rs 20 per litre for the first two weeks of April.
According to reports in the local media, a proposal has been made to reduce the price of gasoline by Rs4.30 and high-speed diesel by Rs20. This is because citizens in the crisis-stricken nation are suffering from crippling inflation and have seen little to no improvement in their income.
According to reports, a plan has also been developed to reduce the cost of light-speed diesel and kerosene by Rs. 10 and Rs. 13 per litre, respectively.
After a drop in petroleum product prices on the worldwide market—London Brent oil recently saw a drop of up to 6.50 percent—the government will release new petroleum goods.
Meanwhile, a final decision about the petroleum prices will be taken by the ministry after consultation with Prime Minister Shehbaz Sharif as IMF is keeping eye on every move of the Pakistani government.
