Government announces to slash fuel prices by up to Rs 3 per liter

ISLAMABAD: Federal government on Wednesday (today), announced a reduction in fuel prices of up to Rs 3 per liter.

Addressing a press-briefing in Islamabad, Hammad Azhar announced that price of petrol will be slashed by Rs1.5 per litre while the price of diesel will be reduced by Rs 3 per litre.

Government took this decision because now, they have some room due to change in prices at the international market, he said.

Expressing his views on sugar prices, the federal minister highlighted that the government had allowed sugar to be imported from other countries, however, the price of the commodity in other countries was also high.

“However, in our neighbouring country India, the price of sugar is quite cheap,” he said. “Hence, we have decided to resume sugar trade with India”, said Hammad Azhar.

The development comes as earlier, Oil and Gas Regulatory Authority (OGRA) had recommended prices of petroleum products by up to Rs5.50 per litre approximately for the first half of April.

OGRA had recommended a reduction of Rs1.50 per litre in the price of petrol and Rs5.40 per litre in price of high speed diesel (HSD).