Pakistan is set to get major relief in diesel prices, with Petroleum Minister Ali Pervaiz Malik announcing a reduction of around Rs. 30 to Rs. 32 per litre. The Oil and Gas Regulatory Authority (OGRA) is expected to notify the new price after completing its calculations.
The announcement came after the government held talks with oil refineries and asked them to provide relief to consumers. Prime Minister Shehbaz Sharif had directed the petroleum ministry to negotiate with refineries to reduce the burden on the public.
Malik said the government was aware of the difficulties faced by people and was taking steps to provide relief despite limited resources. He also said the government had already used more than Rs. 100 billion to protect consumers from the impact of higher fuel costs during the recent Middle East crisis.
The expected cut is particularly important for farmers, transport operators, and businesses that depend heavily on diesel. The current high-speed diesel price is around Rs. 390 per litre, meaning a Rs. 32 reduction could bring it close to Rs. 358 per litre.
The final price will be confirmed once OGRA issues its official notification.
