The sources say that a summary will be forwarded to Prime Minister Imran Khan for approval of further cut to POL prices.
ISLAMABAD: (UrduPoint/Pakistan Point News-April 29th, 2020) The Federal government was likely to announce further relief for the public by lowering petroleum prices after drop in international markets owing to novel Coronavirus, the sources said here on Wednesday.
They said that petrol and high speed diesel prices would presumably be reduced by Rs 15 per liter, adding that a summary would be forwarded to Prime Minister Imran Khan today. They said that new prices would come into effect from May 1 following the premier’s approval.
Talking on a local tv, Advisor to the PM on Finance Dr Abdul Hafeez Shaikh had said that the cost of energy and travel would decrease with the reduced oil prices in the international market and the government would pass on the benefit of reduced oil prices to public.
It may be mentioned that PM Imran Khan earlier had announced a major cut in petrol and diesel prices by Rs 15 per liter as well for which the government bore the burden of Rs 75 billion.
The prices of oil fell down to 0 Dollar in the US for the first in the history due to current Coronavirus pandemic.
