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Reduction in petrol prices has been announced in Pakistan. The government has reduced the levy on petrol by Rs 80 (Pakistani Rupee) per litre. After this decision, petrol will now be available in Pakistan at the rate of Rs 378 per liter.
Earlier on Thursday, the government had increased the prices of petrol by 43% and diesel by 55%. Due to this, petrol in Pakistan increased by 137.23 to Rs 458.41 and diesel increased by 184.49 to Rs 520.35 per liter. After which massive protests started against the government across the country.
6 months salary of cabinet ministers stopped
Shahbaz Sharif also announced strict measures to deal with rising inflation and economic crisis. He said that earlier a decision was taken to stop the salary of cabinet ministers for 2 months, but now no federal minister will take salary for the next 6 months.
Information given in address to the nation at midnight
Addressing the nation on Friday midnight, PM Shehbaz Sharif said that the government has decided to reduce petrol levy by Rs 80 to reduce the burden on the public. The new prices have come into effect immediately at petrol pumps across the country. Sharif also made it clear that these prices of petrol will remain stable for at least the next one month.
Earlier the price had crossed ₹ 458
After the increase on Thursday, the price of petrol in Pakistan increased from Rs 321.17 to Rs 458.41 per liter. The government had increased the tax on petrol from Rs 105 to Rs 160.
At the same time, the price of High-Speed Diesel (HSD) also increased by Rs 184.49 to Rs 520.35 per liter. However, the levy on diesel was abolished, after which there was a demand for relief in petrol prices also.
Situation in Gulf countries cited as reason for inflation
In his address, the Prime Minister said that due to the ongoing conflict in West Asia and the closure of the Strait of Hormuz, petroleum supply has been affected globally. Due to this, oil prices increased rapidly in the international market.
He said that oil prices were increasing daily for the last three weeks, but considering the difficulties of the common man, we did not pass the burden on the public. The government gave subsidy of about Rs 129 billion during this period.
Big announcements for farmers, bikers and transporters
Relief is not limited to just reducing the price of petrol, PM has announced direct subsidy for many categories:
- Motorcycle Users: They will be given an additional subsidy of Rs 100 per liter on petrol.
- Transporters: Relief of Rs 70 to 80 thousand has been given for goods carrying vehicles and Rs 1 lakh for passenger vehicles.
- Farmer: Small farmers will get financial assistance of Rs 1,500 per acre.
- Railway: It has been decided not to increase the economy class fares of Pakistan Railways.
Crude oil prices reached $110
Amid the war between America-Israel and Iran, a huge rise in the prices of crude oil is being seen. The price of Brent crude has increased by 7% today and reached close to $ 110 per barrel.
In India too, excise duty on petrol and diesel was reduced by Rs 10 each.
Earlier in India too, the government had reduced the special excise duty on petrol and diesel by Rs 10 each. Duty on petrol was reduced from ₹13 per liter to ₹3, while on diesel it was reduced from ₹10 to zero. The prices of petrol and diesel have been kept stable by reducing excise duty.
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