Nawaz an­nounces ma­jor cut in POL prices

Di­rects CMs to en­sure ben­e­fit to masses

Pakistan Observer - - FRONT PAGE - STAFF RE­PORTER

Prime Min­is­ter Nawaz Sharif has an­nounced another ma­jor cut in the prices of pe­tro­leum prod­ucts. He made this an­nounce­ment at a mam­moth pub­lic meet­ing on the oc­ca­sion of in­au­gu­ra­tion of Hazara Mo­tor­way in Havelian on Satur­day.

The price of petrol has been slashed by Rs 9.66 a litre with ef­fect from Mon­day. The new price of petrol would be 84.53 ru­pee a litre as against the ex­ist­ing price of 94.19 ru­pee.

Hi-oc­tane price has been re­duced by 10.18 ru­pee a litre; Kerosene 4.34 ru­pee a litre; High Speed Diesel 7.12 ru­pee a litre and Light Speed Diesel 5.39 ru­pee a litre. New prices of th­ese prod­ucts would be HiOc­tane 106.27; HSD 94.9 and Light Speed Diesel 77.98 ru­pee a litre.

The new prices will take ef­fect from Mon­day, Dec 1.

The Prime Min­is­ter di­rected the provin­cial chief min­is­ters to en­sure trickle-down ef­fect of re­duc­tion in prices of

POL prod­ucts.

He said the re­duc­tion should be sig­nif­i­cantly re­flected in trans­port fares and prices of food stuff and other items. He also ex­pressed the con­fi­dence that the decision to re­duce prices would help farm­ers as well.

Fol­low­ing the re­duc­tion, a no­ti­fi­ca­tion of which Nawaz said will be is­sued the next day, the price of petrol will come down to Rs84.53 per litre from Rs94.19.

Nawaz an­nounced a Rs7.12 per litre cut in the price of high speed diesel, which will be re­duced to Rs94.09 from Rs101.21, and a cut by Rs10 per litre in the price of HOBC, bring­ing it down to Rs103 from Rs113.

Ogra had rec­om­mended the re­duc­tion in POL prices after crude prices have fell to four-year lows in the in­ter­na­tional mar­ket.

Ac­cord­ing to de­tails, the price of kerosene will be Rs83.51 per litre, down by Rs4.01 per litre from Rs87.52. The price of light diesel oil will be Rs78.42 per litre, down by Rs5 from Rs83.42. The new prices will take ef­fect from Mon­day, Dec 1.

The de­ci­sions, he hoped, would also go well with the few par­tic­i­pants of the sit-ins as they op­posed any thing pos­i­tive. The

price slash, he ex­pected, would be trans­lated into de­cline in the prices of other items.

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