- Relief being ready to reduce electricity rates: PM Shehbaz.
- “Package of prices reduction to be unveiled in the coming weeks.”
- The Prime Minister says that Govt is committed to prioritizing public aid.
Prime Minister Shehbaz Sharif has decided to maintain the prices of oil products unchanged for the next fortnight and to divert the reduction in a drop in petrol prices on the international market to a significant drop in power rate for the masses.
The federal government aims to maintain prices for petroleum products and transfer the entire financial service to the masses through Power Tariff, the PM office said on Saturday.
This decision will be one of the many measures taken by the government to achieve a significant reduction in electricity rates, said the Prime Minister.
A package is being prepared in a complete and effective strategy to reduce the prices of electricity, said PM Shehbaz, adding that the details of the rescue measure for the public are finalized using the financial space created due to the fluctuations in world oil prices.
The press release added that the power rate reduction package would be revealed in the coming weeks.
The Prime Minister said that his administration was determined to prioritize the public’s emergency services since coming to power.
He expressed his goal of providing additional relief to the masses alongside the reduction of the power rate.
“The relief will not only reduce electricity prices, but will also have a broader impact on inflation, which will lead to a new decline,” said the Prime Minister.
The PM will address the nation to announce the main rescue measure.
In addition, the finance division also issued a notification, declaring that the government had decided to maintain the prices of all petroleum products at the current levels.
| Products | Existing price | New price | Increase / decrease |
| Essence | 258.64 | 258.64 | +0.00 |
| Diesel at high speed | 255.63 | 255.63 | +0.00 |
| Kerosene oil | 168.12 | 168.12 | +0.00 |
| Light diesel oil | 153.34 | 153.34 | +0.00 |
Before this development, we learned that the country had to reduce prices of petroleum products to Rs14 during the next Bimensional Review of March 15.
The price of gasoline was likely to be reduced by RS14 per liter, while high -speed diesel (HSD) can see a reduction in RS8 per liter, the sources of oil companies in Geo News said two days ago.
Similarly, the sources said that kerosene and light diesel oil could be reduced by RS10 and RS7 per liter, respectively.
However, the final price will be determined according to the fluctuations in world oil prices over the next three days, they said.
On February 28, the federal government reduced the price of gasoline by RE0.50 and that of the HSD by RS5.31 for the next fifteen ending on March 15.
Petrol is mainly used in private transport, small vehicles, ripe pousses and two-wheelers. The increase in fuel prices has a significant impact on the budgets of the members of the middle and lower classes, which mainly consume petrol for travel.
On the other hand, an important part of the transport sector is based on high -speed diesel.
Its price is considered to be inflationary because it is mainly used in heavy products transport vehicles, trucks, buses, trains and agricultural machines such as tractors, tube wells and batteries. The consumption of high -speed diesel contributes particularly to the increase in vegetable prices and other foods.