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PM orders to accelerate steps for trickling down impact of reduced oil prices to common man

PM orders to accelerate steps for trickling down impact of reduced oil prices to common man
October 23, 2023 Web Desk

ISLAMABAD (APP) - Cartaker Prime Minister Anwaarul Haq Kakar on Monday directed the authorities concerned to accelerate the steps for trickling down the impact of reduced prices of the petroleum products to the common man.

The prime minister, chairing a review meeting to discuss the impact of oil prices reduction on commodities’ rates, instructed that the effect of reduction of petrol price by 12.38 percent and diesel by 4.7 percent should be trickled down to the common man at the earliest.

He said Rs 41 billion have been saved due to the stability in dollar rate and reduction in petroleum prices and the relief would be extended to the common man.

The meeting was apprised of the recent oil prices reduction and outcomes of operation against power theft and smuggling. It was told that due to the reduced petroleum prices, inflation has come down by 1.7 percent which was the highest during the last one year.

The prime minister appreciated the administration for taking the steps to reduce oil prices and dollar rate, curb smuggling and transmitting their impacts to the common man.

He instructed the relevant authorities to strictly deal with the hoarders and profiteers and viewed that the operation against power theft and smuggling had benefited the consumers. He said 18 percent reduction of wheat price and sugar by 16 percent in Balochistan was welcoming.

He said due to the administrative measures, the prices of 24 commodities had been reduced countrywide.

The meeting was told that remarkable reduction in the prices of agricultural production, electricity, transport fares and industrial production was being ensured. The chief ministers of Sindh, Khyber Pakhtunkhwa and Punjab, and Balichistan chief secretary gave briefing on the steps taken by them on the subject matter.