Govt 'considering' cut in fuel prices after backlash from public, Opp

By: News Desk      Published: 10:00 PM, 30 Jun, 2020
Govt 'considering' cut in fuel prices after backlash from public, Opp
–File photo

A strong reaction from the masses and the opposition political parties has made the government think about decreasing the prices of petroleum products.

According to sources at the Prime Minister’s Office, Prime Minister Imran Khan has directed the Petroleum Division and the Finance Ministry to work out a cut in the fuel prices. Sources say a Rs10 per litre cut in the prices of petrol and diesel is expected and a notification in this regard can be issued any time.

The prime minister has also formed a high-level inquiry committee to investigate the artificial fuel shortage, which was recently created by the oil marketing companies. Also, the Finance Ministry is working on bringing down the rate of petroleum levy to decrease the prices of petroleum products.

On June 26, the government increased petrol prices by Rs25.58 per litre after providing a brief relief to people during the lockdown triggered by the coronavirus pandemic. According to a notification issued by the Finance Ministry, the new petrol price touched Rs100.10 per litre. With the increase of Rs21.31 per litre, the new price of high speed diesel reached Rs101.46 per litre. The price of kerosene oil was increased by Rs23.50 to Rs59.6 per litre. With the increase of Rs17.84 per litre, the new price of light diesel reached Rs55.98 per litre.

People reacted strongly to the government's decision to increase the fuel prices on such a massive scale. Also, the ruling PTI came under fire from the opposition political parties for the irrational increase in the fuel prices.