Huge Reduction in The Petroleum Prices by Federal Government

Courtesy: Daily Times

Islamabad - Coronavirus is having a terrible impact on the economy of every state in the world. A few days back in the US, Oil prices turned negative. The pandemic causes oil demand to drop so rapidly, that the countries are running out of place to store oil. The world is facing the longest ever lockdown of the history that the demand for petroleum products reduces drastically.

In Pakistan coronavirus also hits the economy and the demand for petroleum products decreases accordingly. In view of this Federal Government has announced to reduce all the petroleum product prices by for the month of May.

According to the notification issued by the Federal finance ministry, After the drop-in petroleum prices, petrol will be available for Rs 81.58, High-Speed Diesel will cost Rs 80.10, While Light diesel will be available for 47.51, Kerosene oil will cost Rs 47.44.

PM Imran Khan has promised to ease the life of a common citizen, he believes that reduction in petrol prices will provide benefits to common people. Earlier PM Imran Khan Emphasized on implementation of new rules and regulations issued by the present government about retirement of government employees.