Prime Minister Shehbaz Sharif has announced a significant reduction in diesel prices across Pakistan.
In good news for the public, the price of High Speed Diesel (HSD) has been reduced by Rs 32 per litre. The new price of diesel is now Rs 353 per litre, effective from Thursday night.
This is one of the biggest single reductions in diesel prices in recent months. The decision was taken after a review of global oil prices and the current exchange rate.
The Prime Minister stated that this price cut will provide much-needed relief to the common man, especially those who rely on public transport. It is also expected to benefit the agriculture sector, as diesel is heavily used by farmers for tractors and tube wells. Transportation costs for goods are also likely to decrease, which may help bring down the prices of daily essential items.
The reduction in diesel prices comes at a time when the government is trying to control inflation and ease the burden on the people. Earlier this month, petrol prices had also seen some relief.
Oil marketing companies will now adjust their rates according to the new notification issued by the Oil and Gas Regulatory Authority (OGRA).
This latest cut is being welcomed by transporters, farmers, and the general public. Many believe it will help reduce the cost of living and support economic activity in the country.
The government has assured that it will continue to monitor international oil prices and pass on any further relief to the people whenever possible.
