ISLAMABAD: The government is likely to announce a reduction in new petroleum prices, sources in the petroleum ministry told Express News on Monday.
The Ministry has decided to revise downwards petroleum prices by reducing the petroleum levy. In a summary sent by Petroleum Minister Dr Asim Hussain to the Oil and Gas Regulatory Authority (OGRA), the reduction in the levy would bring petrol prices down by as much as Rs3.
The prices of all three fuels – petrol, diesel and kerosene oil – were raised to over Rs100 per litre on Sunday. The price of CNG was also raised by as much as Rs11.55 per kg.
Transporters, traders and the common man alike were irked by this decision and announced to protest against it. All Pakistan Transport Owners Association (APTOA) also warned that transport fares would be raised if petroleum prices are not brought down.
Traders gave an ultimatum of 72 hours to the government to reverse its decision and warned of holding a countrywide campaign of civil disobedience in case their demand is not met. Muttahida Qaumi Movement (MQM) also demanded that the government reverse the decision calling it a ‘crime against the public’.