The government has secured a Rs. 30-32 reduction in the price of diesel after negotiations with local oil refineries, Petroleum Minister Ali Pervez Malik announced a short while ago.
He said refineries had agreed to the government’s request following several meetings held on Prime Minister Shehbaz Sharif’s instructions.
The exact reduction will be finalized by OGRA after completing its calculations later tonight.
The minister said the cut is expected to provide relief to farmers using diesel for tractors and tube wells as well as people relying on diesel-powered public transport.
He said the government has spent more than Rs100 billion over the past three to four months to cushion consumers from rising petroleum prices.
Malik added that the government will begin work on upgrading Pakistan’s oil refineries in the coming days. He will also visit Karachi next week with his team to meet and thank the refineries.
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