Interim Prime Minister Anwaar-ul-Haq Kakar has directed to reduce the prices of essential items and services in line with Sunday’s decrease in petroleum prices.
“Consequent to a substantial reduction in fuel prices, I have directed the concerned authorities at Federal and Provincial level to activate a strict price control mechanism,” he tweeted.
“I urge all honorable Chief Ministers to ensure that prices of essential commodities and services are reduced correspondingly. All efforts should be directed towards transferring the benefit of reduction in petroleum prices to the people of Pakistan. Strict implementation be ensured,” he stated.
Consequent to substantial reduction in fuel prices, I have directed the concerned authorities at Federal and Provincial level to activate a strict price control mechanism. I urge all honorable Chief Ministers to ensure that prices of essential commodities and services are reduced…
— Anwaar ul Haq Kakar (@anwaar_kakar) October 16, 2023
The interim PM was referring to Sunday’s fuel rates’ surprise which saw a massive reduction in prices of petroleum products following a decline in international oil prices and the prevalent strengthening of the Pakistani rupee against the US dollar.
Notably, the business community on Monday commended the government’s decision to cut prices of petroleum products by a historic Rs. 40 per liter for petrol.
The new price of petrol is Rs. 283.38 after a cut of Rs. 40 per liter. Similarly, the new price of high-speed diesel has been set at Rs. 303.18 after a cut of Rs. 15 per liter.
It’s a good initiative and transport owners should also be fined for not reducing the fares as quick when fuel prices increased.