Petroleum prices to go down as PM seeks summary

LAHORE: Prime Minister Muhammad Shehbaz Sharif Tuesday asked the ministries concerned to move a summary suggesting reduction in petroleum prices as the government had decided to pass on benefit of reduced oil prices in international market to the consumers.

The prime minister, chairing a meeting, said the government would pass on the full benefit to the consumers who had been sacrificing owing to the rise in petroleum prices.

He asked the ministries of finance and petroleum to present a summary to him for approval, adding that the people deserved relief after passing through difficult times.

He told the meeting that the government would reduce the oil prices transparently at par with the reduction in the international market, which according to the PM Office statement was a gift to the people on the occasion of Eid-ul-Azha.

He said the incumbent government would continue to providing relief to the people hit by the inflation caused by the previous government. By the Grace of Allah Almighty, the government will bring in further eases to the people’s lives, he added.

The meeting was attended by the senior officers of the Oil and Gas Regulatory Authority and the relevant ministries and departments.

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