In positive news for Pakistani consumers, Senator Faisal Vawda recently hinted at further reductions in petrol prices, adding to a series of cuts in response to global oil price declines. At a press conference on October 3, 2024, Vawda expressed optimism that this would help ease inflationary pressures in the country. He highlighted improvements in several economic indicators, including a strengthening rupee and progress in Pakistan’s IMF agreement, both of are contributing to economic stability.
The government had already reduced petrol prices by Rs. 40 per liter, and Vawda suggested that additional cuts would follow, which could bring the price down even further. As of now, petrol stands at around Rs. 249.10 per liter, with diesel at Rs. 249.69 per liter(Vawda also mentioned plans to provide electricity at a lower rate of 9 cents per unit to the industrial sector, aiming to boost productivity.
This anticipated reduction is part of broader efforts by the government to manage inflation and provide relief to consumers, especially with the support of economic policies spearheaded by the Special Investment Facilitation Council (SIFC)
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