ISLAMABAD : (July 14,2022). Prime minister , Shahbaz Sharif, on Thursday announced reduction in the petroleum product prices with immediate effect.
The reduced prices of petroleum products will become effective from mid night on July 14, 2022.
In his address to the nation, the prime minister announced reduction in the prices of petrol and diesel by Rs 18.50 and Rs 40.54 per litre respectively . Kerosin rates slashed by Rs 33.81. The price of light diesel was reduced by Rs 34.71 per liter.
After reduction in the rates, new petrol price will be Rs 230.24 per liter and diesel will cost Rs 236 per liter.
The prime minister said his government was taking every possible measure to provide relief to the masses and today’s announcement of reduction in the rates of petroleum products was depiction of the same policy.
He added that Pakistan Tehreek e Insaf (PTI) government laid down mines after smelling its ouster and its decision to cap the rates of petroleum products in February in violation of its own agreement with the International Monetary Fund (IMF) was a part of its same destructive policy .
The prime minister his government has managed to revive the loan facility agreement with IMF to get a bailout package and it was his desire that it ought be the last agreement with IMF
He added that agriculture sector was a key priority of his government and after assuming the power he constituted a task force for revival of agriculture sector. He also promised incentives for export related industries to help it get due share of Pakistan in international trade .
Shahbaz Sharif gave the credit of reaching for a staff level agreement to Finance minister , Miftah Ismail.
