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PM announces reduction in fuel prices

ISLAMABAD: PM Shehbaz Sharif, while addressing the nation, on Thursday (14th of July, 2022) has announced reduction of Rs. 40.54 per liter of Diesel and Rs. 18.50 per liter of Petrol. 

PM told that the price cut would go into effect at midnight tonight (Friday, 15th of July, 2022).  Following the reduction the new price of Diesel will be Rs. 236/ liter and the new price of Petrol will be Rs. 230.24 per liter.

Price reduction

PM reiterated that PTI-led coalition government had laid landmines for the incumbent coalition government and trampled on the agreement it had signed with IMF. PM Shehbaz Sharif said that PTI-led government had reduced the fuel prices though there was no money in its kitty.

PM Shehbaz Sharif said his government was concentrating on the agriculture and IT sectors with expectations of reaping results in less than a year.

Earlier, Minister for Finance and Revenue Miftah Ismail has stated that the prices of Petroleum Products would be reduced on Thursday (14th July, 2022) and IMF had no objection to it.

Miftah Ismail said that the incumbent coalition government would provide relief to the people by reducing prices of essential commodities following the inking of the IMF agreement.

Finance Minister Miftah Ismail claimed that the present government had successfully saved Pakistan from bankruptcy and was now leading the country on the path of progress and stability.

Pointing towards the difficult decisions Miftah Ismail said: “We took tough decisions which put the country’s economy on the right track”.

It may be recalled that Pakistan and the International Monetary Fund (IMF) have reached an agreement on policies to complete the combined seventh and eighth reviews of Extended Fund Facility (EFF).

Taking to the Twitter on Thursday (14th of July, 2022) Federal Finance Minister Miftah Ismail informed that under the agreement, Pakistan would receive $1.17 billion soon. | YouTube Channel

M M Alam

M. M. Alam is a Pakistan-based working journalist since 1981. Karachi University faculty gold medalist Alam began his career four decades ago by writing for Dawn, Pakistan’s highest circulating English daily. He has worked for region’s leading publications, global aviation periodicals including Rotors (of USA) and vetted New York Times as permanent employee of daily Express Tribune. Alam regularly covers international aviation and defense-related events including Salon Du Bourget (France), Farnborough (United Kingdom), Dubai (UAE). Alam has reported thousands of events and interviewed hundreds of people in Pakistan, UAE, EU, UK and USA. Being Francophone Alam also coordinates with a number of French publications.