Web Desk: Pakistan is likely to reduce petroleum prices by up to Rs30 per litre in the upcoming fuel price revision, officials familiar with the matter said on Thursday.
Authorities are expected to announce the final decision later tonight after reviewing global oil prices and exchange rate adjustments.
If approved, the reduction would provide significant relief to consumers facing high transportation and energy costs in recent months.
Officials said the proposed cut may apply to major petroleum products, including petrol and high-speed diesel.
The government revises fuel prices every fortnight based on fluctuations in international crude oil markets and the value of the Pakistani rupee against the U.S. dollar.
Meanwhile, consumers and transporters have closely watched the expected revision amid easing trends in global oil prices.
Economists said a major reduction in fuel prices could lower transportation expenses and ease inflationary pressure on essential goods.
However, authorities have not yet released the exact breakdown of the proposed changes.
The finance ministry is expected to issue an official notification after final approval later in the day
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