Karachi, November 29, 2023 – The caretaker government has announced a cut in petrol and diesel prices by up to Rs20 per litre, effective from December 1st for the first two weeks of the month.
Pakistan’s economy has been grappling with record inflation, causing widespread financial distress among its citizens who have seen little to no increase in their incomes. The price reduction is part of the government’s strategy to mitigate the inflationary pressures and provide some respite to the people.
With the expected price drop, petrol is anticipated to be priced at around Rs260 per litre, a significant decrease that authorities hope will aid in controlling the spiraling inflation.
While the announcement has been made, the final decision on the price cut is slated to be confirmed on November 30. This step is seen as a critical measure by the caretaker government to address the economic woes of the country, especially in the oil industry, which has been facing challenges.
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