The federal government has announced a significant cut in the prices of petroleum products.
According to sources, Prime Minister Shehbaz Sharif has approved a cut of Rs. 15.4 per liter in the price of petrol, while the price of high-speed diesel has been cut by Rs. 7.9 per liter. The new prices will be applicable from June 1.
The finance ministry is expected to issue a notification in this regard shortly.
At the last fortnightly review of petroleum prices, the price of petrol was decreased by Rs. 15.39 per liter, while the price of high-speed diesel was reduced by Rs. 7.88 per liter.
Before that, for the first fortnight of May, the government cut the price of petrol by Rs. 5.45 per liter, while the price of high-speed diesel was slashed by Rs. 8.42 per liter.
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