POL prices reduced on PM orders

ISLAMABAD: Petroleum prices have been reduced on the directives of prime minister, said spokesman for the Prime Minister on Monday.

Prices of petrol, High Octane , High Speed Diesel, Kerosene Oil and Light Speed Diesel have been reduced by Rs 1.72, Rs4.66, Rs2.90, Rs5.61 and Rs5.16 respectively.

The spokesman said that the prime minister’s decision was aimed at passing on the benefit of decline in dollar prices to the people.

POL prices reduced on PM’s order

ISLAMABAD: The government has announced a reduction in the prices of petroleum products from midnight Monday.

According to a spokesman of the Prime Minister’s House, Prime Minister Nawaz Sharif on Monday directed reduction in POL prices immediately.As a result, the price of petrol has been reduced by Rs1.72 per litre and its new price will be Rs108.31 per litre.

Meanwhile, the price of kerosene has been reduced by Rs5.71 per litre, high octane Rs4.66 per litre, light diesel Rs5.6 per litre and high speed diesel has been reduced by Rs2.90 per litre. The revised price takes effect from midnight.

It may be mentioned here that the Oil and Gas Regulatory Authority (Ogra) had recommended a decrease in the petroleum prices last week.Ogra had also forwarded a summary to the government recommending a decrease in the prices of petroleum products.

Earlier, Finance Minister Muhammad Ishaq Dar met the prime minister on Saturday and apprised him of the economic situation of the country. During the meeting, the finance minister told the prime minister that since the dollar exchange rate against Pak Rupee was hovering around Rs98, therefore, imports would receive positive impetus.Keeping in view these factors, the prime minister directed to pass on the benefits of currency stabilisation to the common man.