ISLAMABAD – Federal Petroleum Minister Ali Pervaiz Malik has announced that a significant reduction of Rs30 to Rs32 per litre in the price of diesel is expected soon, providing relief to consumers amid rising fuel costs.
Speaking at a press conference in Islamabad alongside Federal Information Minister Atta Tarar, Ali Pervaiz Malik said the government was fully aware of the difficulties being faced by the public and was making efforts to address their problems.
“The difficult times will end,” the minister said, adding that the government was taking all possible measures to provide relief to the people and resolve their issues.
Targeted subsidies provided to public
Ali Pervaiz Malik said the government had already provided relief through targeted subsidies and stressed that it had not abandoned the public during the difficult economic situation.
He said many countries around the world were facing economic and energy-related challenges, adding that even Russia, despite being a major diesel-producing country, was experiencing difficulties.
Refineries agree to reduce diesel prices
The petroleum minister said Prime Minister Shehbaz Sharif had directed the government to engage with oil refineries to explore ways to reduce fuel prices.
“Following the prime minister’s instructions, we held two to three meetings with representatives of oil refineries,” he said.
According to Ali Pervaiz Malik, the discussions resulted in oil refineries agreeing to a substantial reduction in diesel prices.
He said the price of diesel was expected to decline by Rs30 to Rs32 per litre.
OGRA notification expected
The minister said a major reduction in diesel prices was expected shortly and that the Oil and Gas Regulatory Authority (OGRA) would issue the notification regarding the price cut on Wednesday.
The expected reduction would provide significant relief to consumers, particularly transporters, farmers and businesses that rely heavily on diesel.
