The government has secured a Rs. 30-32 reduction in diesel prices after negotiations with local oil refineries, Petroleum Minister Ali Pervez Malik announced.
He said refineries had agreed to the government’s request following several meetings held on Prime Minister Shehbaz Sharif’s instructions.
The exact price 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.
Malik said the government has spent more than Rs. 100 billion over the past three to four months to protect consumers from rising petroleum prices.
He added that the government will soon begin work on upgrading Pakistan’s oil refineries. He will also visit Karachi next week with his team to meet and thank the refineries.