Following directives from President Asif Ali Zardari and Prime Minister Yousaf Raza Gilani, prices of petroleum products and compressed natural gas (CNG) are expected to be reduced by up to Rs10 for fifteen days starting June 16, Express News reported early Friday morning.
According to the Ministry of Petroleum, prices of petrol are expected to be reduced by Rs10.15 per litre. That of diesel will be reduced by Rs4.96 and kerosene by Rs4.25 per litre.
A summary on the reduction of prices has been dispatched to the Prime Minister’s office for approval.
CNG prices 60% of petrol
Seemingly caving into the demand of the CNG station owners, the government has decided in principle to bring the prices of CNG to 60 per cent of petrol.
Both, the President and Prime Minister issued directives on Thursday that the prices of CNG be reduced.
Minister for Petoleum Asim Hussain said that CNG prices were being reduced by Rs6.24.
Earlier, the Ministry and the All Pakistan CNG Association reached a consensus on pricing and gas outages which helped bring a week long strike by the station owners across Pakistan to an end.
Correction: An earlier version of the article incorrectly mentioned that CNG prices were being reduced to Rs6.34. They are being reduced by Rs6.24. The error is regretted.
COMMENTS (13)
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Its really useless to do anything good in this country..Even the good measures are being criticized. A benefit is a benefit no matter what the motive...Petrol is a commodity and should be priced as per availability like any other commodity...period.
Even if the government reduces the price of CNG by Rs. 6.24, the new price would be around Rs.73 which is still 81 % of the prospective petrol price (around Rs. 90). CNG price is certainly NOT going to be 60% of the retail price of petrol.
How they are going to make CNG 60% of petrol is, that they raise the prices of petrol to make a difference of 60%
Oil prices are coming down globally, but in Pakistan proportionate effect is never seen! The prices should be reduced by more than Rs. 10!
Gift for elections.
@!!!: Granted. You have a right to believe what you'd like to believe. Congrats!
preparation for elections i see...bribe the nation!
The CNG prices should be actually increased, so as to discourage people from using it. Gas goes to CNG stations while our power stations close down, causing massive losses to the economy.
"Minister for Petoleum Asim Hussain said that CNG prices were being reduced to Rs6.24."
Is it to or by Rs. 6.24? Typo!!!!
Fuel prices are rising throughout the World -- yet a broke country who's unpopular govt is up for re-election is subsidizing fuel prices -- anyone surprised?
Like Gold, Silver, Petroleum prices are determined globally not by individual countries. When it goes up it is everywhere, when it goes down it goes down globally. We are in the habit of cursing or praising the govt which has nothing to do to control these prices.
near election gimmicks, ppp you still wont get a vote!
When Government increase the prices of petroleum products it increases with immediate effect,
And when the Government announce to decrease the prices of Petrol and Diesel etc., it decreases the prices after two days?