ISLAMABAD: The federal government led by Prime Minister Imran Khan decided on Tuesday to introduce a comprehensive strategy to determine and fix oil prices in the country, ARY NEWS reported.
It was decided at a meeting chaired by the Prime Minister today where he was briefed on factors affecting the import and prices of petroleum products. The policy will help transfer the maximum benefit from lower fuel prices to the masses.
During the briefing, it was said that previous governments had not developed an appropriate strategy to manage the demand for and supply of petroleum products. "No action has been taken to reduce transportation and other related costs, which has weighed on the masses who have had to bear the costs of rising fuel prices," said the report.
The Prime Minister expressed concern about this and said that neglect and mismanagement of previous governments had cost the masses dear.
"Lack of planning to cut costs related to petroleum products illustrates incompetence," he said, adding that the outgoing government would focus on long-term planning and not take short-term action. term to solve the problem.
It is relevant to mention here that on February 29, the government announced a significant drop in the prices of gasoline and diesel for the month of March in order to relieve the masses affected by inflation.
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The price of a liter of petrol has been reduced from Rs5 to Rs111.60, while that of high speed diesel from Rs5 to 122.26.
The price of light diesel has been reduced from Rs7 to Rs77.51 per liter. The new prices will take effect on March 1.
The government has reduced the price of kerosene from 7 rupees to 77.51 rupees.
