After receiving scathing criticism from transporters, traders and the general public, the government, it seems, has succumbed to the pressure and decided to retract the recent massive price hike in fuel prices.
Talking to the media after holding a meeting with President Asif Ali Zardari at Bilawal House in Karachi, Federal Minister for Petroleum Dr Asif Hussain revealed that the government was considering a cut of Rs2 to Rs3 per litre in petrol and Rs1 to Rs2 in diesel prices.
However, he said that a formal announcement would be made by the finance ministry.
“We took this decision in a bid to provide relief to consumers on the directives of President Asif Zardari. The government will bear the loss and a notification of the same will be issued soon,” he said.
Published in The Express Tribune, April 3rd, 2012.
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