Transport fares in Punjab slashed in response to fuel price drop

Transport fares across Punjab have been reduced by Rs30 to Rs70 after a decrease in petroleum product prices.

Provincial Minister for Information, Uzma Bukhari, confirmed the move and credited Chief Minister Maryam Nawaz and her team for actively ensuring fare reductions whenever fuel prices drop.

Bukhari stated that Punjab is the only province where transport fares are lowered when fuel prices decrease, and passengers are refunded any excess charges.

She added that no other province has implemented fare reductions after fuel price cuts like Punjab has.

Following the directives of CM Maryam Nawaz, the fare reduction has been implemented immediately across the province. District administration teams are actively checking fare schedules at all bus terminals.

Bukhari emphasised that strict action will be taken against transporters charging higher fares.

"It is our responsibility to ensure the benefits of lower petrol and diesel prices reach passengers," she said.

The minister urged transporters to cooperate with the government, noting that Maryam Nawaz is personally monitoring the situation to ensure compliance with the fare reductions.

Two days ago, the federal government announced a reduction in fuel prices, with the cost of petrol falling by Rs10 per litre from Rs259.10 to Rs249.10, effective from midnight tonight. High-speed diesel (HSD) has also seen a price cut, dropping by Rs13.06 per litre from Rs262.75 to Rs249.69.

According to sources, the price of Kerosene Oil has been reduced by Rs11.15 per litre from Rs169.62 to Rs158.47 while the price of Light Diesel Oil has been cut by Rs12.12 from Rs154.05 to Rs141.93.

The current adjustments reflect the ongoing fluctuations in global oil markets and are expected to offer some relief to Pakistani consumers.

Last week, Federal Minister for Petroleum, Musadik Masood Malik, stated that Pakistanis will benefit from the decline in international petroleum prices but will also bear the burden when prices rise.

Responding to a question in the National Assembly, the minister said that price fluctuations in the international market lead to speculation, making it too early to predict petroleum prices for the next fortnight.

"We often receive support from Saudi Arabia through oil on deferred payments," Malik noted, adding that domestic oil prices are determined by global market trends.

He highlighted, "We buy petroleum products against dollars and sell in rupees. Since the inception of the incumbent government, the dollar-rupee parity has stabilised.