Govt decreases petrol price before heading towards elections
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The incumbent government in probably its last days before heading towards the elections went with the popular decision to reduce the prices of petroleum products, reported 24NewsHd TV channel Saturday.
Finance Minister Ishaq Dar in a televised message made the announcement amid the fears that the government may increase the petroleum prices under the new hard-won International Monetary Fund (IMF) agreement where it has been supposed to increase the levy on petrol and diesel prices upto Rs60 per litre.
The move will leave the incoming caretaker government to take the unpopular decision to increase petroleum product prices to meet the IMF criteria.
Dar announced a decrease of Rs9 per litre in the price of petrol and Rs7 per litre in the price of diesel.
After the reduction, the petrol price reached Rs253 per litre from Rs262 and diesel Rs253.5 per litre from Ras 260.50 per litre.
Dar said there was no change being made to the petroleum development levy.