ISLAMABAD: Pakistan’s government will be reducing the price of diesel by more than Rs30 per liter, Petroleum Minister Ali Pervaiz Malik announced on Wednesday, following successful talks with refiners.
While petrol is primarily used in Pakistan for private transportation, including small vehicles, rickshaws and two-wheelers, high-speed diesel powers heavy vehicles used for transporting passengers and goods and agriculture across the country.
Fuel prices in Pakistan have surged since the outbreak of the United States-Iran war, with a liter of diesel costing Rs395.69 ($1.43) that has led to increase in fares and commodity prices in the South Asian nation of over 240 million.
Speaking at a presser, Petroleum Minister Malik said a large quantity of the diesel used in Pakistan is converted to refined products through local refineries and the government is making every effort to provide relief to the masses.
“The Prime Minister himself personally requested the refineries. He instructed me as well... Following that, we held two or three virtual meetings with the refineries,” Malik said.
“And I am pleased to announce to you and share that they have understood our hardships and the refineries have accepted the government’s request. And they have decided that a significant reduction in diesel prices, a decrease of more than Rs30-32 [$0.11-0.12], will be observed.”
He did not specify a date for reduction in diesel price.
The development came a day after the government increased the prices of petrol and diesel by Rs3.34 and Rs5.27 respectively.
Malik said every government wants the cheapest fuel and a reduction in taxes to make it easier for the people.
“By balancing all these matters, and the requirements of the oil supply chain, it has taken its facts in front of all these stakeholders and has taken a judicious decision,” he said.
“So, I would like to make the public aware of the fact that the government is making every effort to cover for the suffering of the people.”
