The Pakistani government is reportedly considering a reduction in petrol prices starting from November 1. This decision comes as the Pakistani rupee strengthens against the dollar, following stringent measures taken by the government.
The prices of Petroleum Oil Lubricants (POLs), including petrol and diesel, are expected to decrease, providing some respite to Pakistanis who are grappling with an intense economic crisis. Unconfirmed media reports suggest that the price of petrol could drop by approximately Rs20 per litre, while diesel prices might be slashed by around Rs16 per litre.
However, the final decision on this matter rests with Prime Minister Anwaar Kakar, who is expected to announce a meeting scheduled for October 31. If approved, this would mark the second time in a month that the government has reduced fuel prices. Earlier in October, the interim government had cut the price of petrol by Rs40 per litre and high-speed diesel by Rs15 per litre for the second half of the month.
As of October 29, 2023, the current price of petrol stands at Rs283.38 per litre. The proposed reduction in prices is seen as a significant step towards easing the financial burden on the common man amidst the ongoing economic turmoil.
It’s important to note that these changes are yet to be officially confirmed by the government. Therefore, citizens are advised to stay tuned for the official announcement regarding the revised petrol prices.