PM directs authorities to pass on the impacts of reduced oil prices to common man

Islamabad: Caretaker Prime Minister Anwaar-ul-Haq Kakar, in a recent review meeting, directed the relevant authorities to expedite the measures aimed at ensuring that the impact of reduced petroleum product prices reaches the common citizens.

Chairing a meeting to discuss the ramifications of declining oil prices on commodity rates, the prime minister emphasized that the 12.38 percent reduction in petrol prices and 4.7 percent reduction in diesel prices should swiftly benefit the general public.

Mr. Kakar pointed out that the nation has saved a substantial amount, approximately Rs 41 billion, due to the stable dollar exchange rate and the reduction in petroleum product prices. He reiterated that this relief must be extended to the common man as quickly as possible.

The review meeting included discussions on the recent decrease in oil prices and the results of efforts against power theft and smuggling. It was revealed that thanks to the decrease in petroleum prices, inflation has decreased by 1.7 percent, the most significant reduction over the past year.

The caretaker prime minister commended the administration for taking steps to lower oil prices and the value of the dollar, clamp down on smuggling, and ensure that these measures positively affect the common man. He urged relevant authorities to take stringent actions against hoarders and profiteers, emphasizing the benefits of operations against power theft and smuggling for consumers.

Mr. Kakar noted with appreciation that wheat prices had decreased by 18 percent, and sugar prices by 16 percent in Balochistan. These price reductions were attributed to administrative measures that had led to a reduction in the prices of 24 commodities nationwide.

The meeting highlighted remarkable reductions in the prices of agricultural products, electricity, transportation fares, and industrial production. The Planning Ministry is utilizing the “Decision Support System for Inflation” software application developed by the National Bureau of Statistics to monitor food prices.

The Chief Ministers of Sindh, Khyber Pakhtunkhwa, Punjab, and the Chief Secretary of Balochistan briefed the meeting on measures taken in their respective regions.

Efforts to reduce transport fares by 10 percent, ongoing operations against hoarders and profiteers, and the alignment of commodity prices with the decrease in oil prices were all discussed. The provincial administrations provided insights into the ratio of price reduction and inflation indicators.

The meeting also featured a presentation on the reduction in the prices of essential commodities, including dry rations, wheat flour, sugar, ghee, oil, fruits, vegetables, and meat. It was reported that district magistrates at the district level in all provinces were actively engaged in ensuring that the benefits of reduced oil prices reach the common man.

Caretaker federal ministers and relevant senior officers, as well as caretaker chief ministers and provincial chief secretaries, attended the meeting. Some attendees joined via video link to provide their insights and updates on the measures taken in their regions.