LAHORE, Pakistan: Prime Minister Nawaz Sharif has announced further reduction in prices of petroleum products.
In his address at a news conference in Lahore on Saturday, the prime minister said that petrol prices are being reduced by Rs7.99 per liter, High Octane Blending Component (HOBC) Rs11.82, kerosene oil 10.48, high diesel oil Rs5.62 and low diesel oil by Rs9.56 per liter from tomorrow (February 1).
The prime minister directed the provincial governments to take steps for bringing down transport fares in line with cut in petroleum prices.
On Thursday, the prime minister while talking to media in Karachi after visiting Karachi Stock Exchange (KSE) told that the federal government was going to further slash the petroleum prices and he would announce the reduction on Saturday.
Sharif said that the relief must trickle down to poor. He said that inflation had been brought at the lowest level.
Nawaz Sharif directed the Chief Minister Sindh Syed Qaim Ali Shah to ensure significant reduction in transport fares.
The prime minister expressed hope that the energy crisis would be overcome during tenure of the present government.