Huge cut likely in petrol price in Pakistan

Islamabad: Due to low-cost oil in the global market, the prices of petroleum products are also likely to decrease in Pakistan, reportedly.

According to the media reports, the price of petrol and high speed diesel in Pakistan is likely to decrease by Rs8 to Rs10 per liter from November 15.

It is reported that the price of kerosene is likely to decrease by Rs4.5 per liter, while the prices of light diesel may also decrease by Rs16.50 per liter.

Oil and Gas Regulatory Authority (OGRA) will send the summary regarding the prices of petroleum products to the Ministry of Petroleum on November 15, after which a final decision will be taken after consulting the caretaker prime minister.

On the other hand, former Minister of State for Petroleum Musadik Malik said while speaking in a program of private news channel that petrol price will reduce before the election and Pakistan will definitely witness economic stability after the election.

Musadik Malik stated that at the moment there is hopelessness in our country, however after elections, poverty will be eradicated with structural changes and proper strategy. The elected government will have to take difficult decisions for 1.5 years after which the country will move towards the journey of development.