Inflation to be controlled following reduction in petroleum prices: PM Khan

Prime Minister of Pakistan, Imran Khan, order inflation to be brought down following a reduction in petroleum prices across Pakistan.

According to reports of Baaghi TV, Prime Minister Imran Khan has directed the provincial governments to take emergency measures to further reduce inflation following the fall in prices of petroleum products.

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In a message to the provincial governments of Punjab and Khyber Pakhtunkhwa, Prime Minister Imran Khan said that the fruits of reduction in prices of petroleum products should be passed on to the common man. As soon as oil prices rise, inflation continues to rise.

Prime Minister, Imran Khan, directed them to ensure reduction in prices of essential commodities after significant reduction in oil prices. The Prime Minister has further directed to take action against illicit profiteering in collaboration with the district administration and said that in reduction should be ensured in any case otherwise, action will be taken.

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It is to be noted that, the government had announced a reduction in the prices of petroleum products by up to Rs 30. According to a statement issued by the Finance Division following the order of the Prime Minister, the price of petrol has been reduced by Rs. 15 per liter. After which its new price will be 81 rupees 58 paise. The price of high speed diesel has also been reduced by Rs 27.15 paise, after which it will be priced at Rs 80.10 paise. The price of kerosene has been reduced by Rs 30 a paise, and its new price will be Rs 47.44 paise. Similarly, the new price of light diesel oil has come down by Rs 15. per liter to Rs 47.51.

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Earlier on March 24, Prime Minister Imran Khan had announced a relief package for the people and various sectors to address the stagnation in economic activities and its negative effects due to the outbreak of the global pandemic, COVID-19 in the country. They had simultaneously announced a reduction of Rs. 15 per liter.

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The Federal Government had on February 29 reduced the prices of petroleum products by up to Rs 7.

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