The Ministry of Finance on Wednesday has announced new prices for petroleum products.
According to the details, Petrol has been reduced by Rs 1.55 per liter, whereas the price of high-speed diesel has been reduced by Rs 3 per liter.
Finance Ministry also notified Rs 1.55 per liter reduction in the price of kerosene oil, whereas light diesel has been reduced by Rs 1.56 per liter.
According to the Ministry, the new prices will be applied from midnight.
After the reduction, the new price of petrol will be Rs 110.35 per liter.
High speed diesel will now be sold at Rs 113.8 per liter. Moreover, the new price of kerosene oil is Rs 82.6, whereas the light diesel will now be sold at Rs 79.86.
Earlier today while addressing a press conference in the Federal Capital, the Finance Minister Hammad Azhar said the reduction in fuel prices is being done after consultations with Prime Minister Imran Khan and keeping in view the trend of oil prices in the global market.
Hammad Azhar said that the Economic Coordination Committee (ECC) at its meeting fixed the wheat support price at 1800 rupees per forty kilogram. He said this decision will provide relief to the farmers.
He also said that the meeting decided to import five hundred thousand tons of sugar from India as the prices of the commodity are lower in India as compared to Pakistan.
In addition to this, Hammad Azhar said that the import of sugar will improve the supply situation which will directly benefit the common man.