ISLAMABAD: Federal ministers Attaullah Tarar and Ali Pervaiz Malik on Wednesday announced that the price of diesel would be reduced by around Rs32 per litre from tonight, providing major relief to consumers amid rising fuel prices.
Addressing a press conference in Islamabad, Petroleum Minister Ali Pervaiz Malik said the government had utilised the available room within the tax structure to provide relief to the public.
He said diesel used in Pakistan was refined at local refineries and supplied to oil marketing companies.
“Prime Minister Shehbaz Sharif issued instructions, and we held two to three virtual meetings with owners of refineries,” Malik said, adding that the refineries had accepted the government’s request.
He said the Oil and Gas Regulatory Authority would announce a reduction of around Rs30 to Rs32 per litre in diesel prices shortly.
“We have not left the people helpless in this difficult environment,” Malik said, adding that the prime minister had directed the government to provide maximum possible relief to the public.
Malik said he would visit refineries in Karachi with his team next week to explore ways to upgrade crude oil processing.
He added that the government would also work on ways to secure crude oil from friendly countries.
“Please show a little patience. We understand the difficulties you are facing,” the petroleum minister said.
Information Minister Attaullah Tarar said the prime minister had chaired a meeting on the issue earlier in the day.
“OGRA will announce a reduction of around Rs32 per litre in diesel prices shortly,” Tarar said.
He said the government was aware of the difficulties being faced by the public and had provided subsidies whenever possible.
“Even in the most difficult circumstances, we prevented petrol prices from rising,” Tarar said.
Earlier, Prime Minister Shehbaz Sharif had directed the petroleum minister to hold talks with owners of local refineries to convince them to reduce the diesel price.
The prime minister said a major portion of the country’s diesel requirement was met by local refineries and maximum possible relief should be provided to the public immediately.
The development comes a day after the government increased the price of petrol by Rs3.34 per litre and high-speed diesel by Rs5.27 per litre.
Following the increase, petrol is being sold at Rs334.54 per litre, while the price of high-speed diesel has risen to Rs395.69 per litre.
Petroleum Minister Ali Pervaiz Malik had announced on July 17 that fluctuations in international oil prices had become a regular feature amid the ongoing conflict in the Middle East.
The government subsequently decided to determine petroleum product prices on a daily basis.
Three days after the announcement, the government began announcing changes in petroleum product prices on a daily basis from July 20.
