PM Shehbaz seeks summary for reduction in petroleum prices

ISLAMABAD: In a bid to pass on the benefit of a  reduction in the prices of petroleum products in the global market, Prime Minister Shehbaz Sharif on Tuesday sought a summary from the Ministries of Finance and Petroleum to slash the prices of the commodity in the country, confirmed Information Minister Marriyum Aurangzeb.

Taking to Twitter, the information minister said that PM Shehbaz has summoned a summary for a reduction in oil prices while chairing a meeting at the PM Office.

“People have made sacrifices they should reap the benefits of this [reduction in oil price],” PM was quoted by Information Minister Marriyum Aurangzeb on Twitter.

“The price reduction seen internationally should be transferred to the people with full transparency,” said the PM. He assured the nation that his government will continue to work to reduce the inflation that was imposed due to the actions of his predecessor.

The directives came two days ahead of the fortnightly summary presented to the prime minister on prices of the petroleum products. The government notifies changes in oil prices on the 1st and 15th of each month.

The Finance Ministry, when approached for comments, said that they cannot forward the summary to the prime minister till OGRA doesn’t submit the summary via the petroleum ministry.

“If it is very important then the summary will be sent to PM by tomorrow evening,” said the finance ministry. It clarified that it receives the summary from the Petroleum ministry on 14th of each month in normal days, adding that its summary is based on the recommendation submitted by OGRA.