Govt to announce over Rs30 reduction in diesel price after refinery talks

Business Recorder reported that the government has unveiled a diesel price relief exceeding Rs30 per litre, linked to talks with oil refineries. Petroleum Minister Ali Pervez Malik said the refineries accepted the government's request to lower the price of locally produced diesel by between Rs30 and Rs32 per litre. The final reduction will be fixed by the Oil and Gas Regulatory Authority (OGRA) once it completes its calculations.

Malik said the agreement followed two or three online sessions with refineries after Prime Minister Shehbaz Sharif asked the petroleum ministry to seek relief for consumers. Information Minister Attaullah Tarar added that the government had secured relief through negotiations, and that OGRA would soon announce a Rs32 reduction. He also noted that refining is a central part of diesel production.

The government said it had already spent Rs130 billion on subsidies and targeted relief to limit fuel price increases during a difficult economic period. Tarar called the cut major relief, pointing out that goods transporters and public transport operators use diesel heavily, so lower costs could ease pressure on consumers. He expressed hope that the reduction would support economic activity and that more positive steps could follow in the coming days.