Oil prices to be further slashed: PM

Oil prices to be further slashed: PM

nwazISLAMABAD: Prime Minister Nawaz Sharif on Wednesday said that the government would further reduce the prices of petroleum products next month, which would help check inflation and give ease to the masses.

“The reduction in prices of petroleum products will benefit the growers through depreciation in the power bills of tube-wells and also give ease to general public in rural and urban areas through decreased transport fares,” he said in his comments telecast by PTV after chairing a meeting on energy here.

The Prime Minister also referred to the cut in prices of petroleum products last month, which eased inflationary pressures on the masses, and said the government wanted to give maximum relief to people.

“We will announce a reasonable cut in the prices of petroleum products this time as well,” he maintained.

The Prime Minister termed the recent signing of billions of dollars agreements with China a “game-changer” and said the establishment of power houses and factories would prove h istoric in terms of elimination of loadshedding.

“Those staging sit-in may not be desiring to see end of loadshedding, but I am committed to do it and we will address this problem within our tenure of government,” he added.

The Prime Minister said he had stated time and again that there was no quick-fix of the years old energy problem. “We are heading fast to address this issue, and once the issue is addressed, it will be a great service to the nation.”

Sharif said it was very unfortunate that due to the sit-ins the Chinese President had to postpone his planned visit to Pakistan., But on the invitation of Chinese President, he added, he visited China to sign billions of dollars agreements.

During his visit, the Chinese President had promised to visit Pakistan, he said, adding like Pak-China friendship, he had very close and personal relations with the Chinese President for long.

Referring to the fall in rice prices in the international market, the Prime Minister said it had also affected Pakistan’s Basmati rice growers.

Agriculture, he said, was the backbone of country’s economy and the government was taking steps to provide support to this important sector.

He said decrease in the prices of agricultural inputs and ensuring better return to growers for their products was on the agenda of his government.

The Prime Minister said he had directed the ministers of Finance and Food Security to take immediate measures to support the farmers, particularly the rice growers

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