ISLAMABAD: Prime Minister Muhammad Nawaz Sharif on Monday announced major reduction in prices of petroleum products including the cut of Rs. 8.48 per litre in petrol, Rs. 4.67 in high speed diesel, Rs. 1.97 in light diesel and Rs. 2.98 in high octane.
The Prime Minister also announced to maintain the price of kerosene oil by rejecting a proposal of the Oil and Gas Regulatory Authority (OGRA) for increasing the same by Rs. 1.66 per litre.
Prime Minister Nawaz Sharif, in a statement, said Pakistan was the only country in the region which passed on the cut in petroleum prices to masses, whenever these are reduced in the international market.
Despite the deficit or shortfall in revenue, the government gave priority to the interest of masses and passed on every relief to them, he emphasized.