- Web Desk
- 4 Hours ago
PM directs authorities to pass on the impacts of reduced oil prices to common man
- Web Desk
- Oct 23, 2023
ISLAMABAD, (APP): Cartaker Prime Minister Anwaar-ul-Haq Kakar on Monday directed the authorities concerned to accelerate the steps for trickling down the impact of reduced prices of petroleum products to the common man.
The prime minister, chairing a review meeting to discuss the impact of oil price reduction on commodities’ rates, instructed that the effect of the reduction of petrol price by 12.38 per cent and diesel by 4.7 per cent should be trickled down to the common man at the earliest.
He said Rs 41 billion have been saved due to the stability in dollar rate and reduction in petroleum prices and the relief would be extended to the common man. The meeting was apprised of the recent oil price reduction and outcomes of operations against power theft and smuggling. It was told that due to the reduced petroleum prices, inflation has come down by 1.7 per cent which was the highest during the last year.
The prime minister appreciated the administration for taking the steps to reduce oil prices and dollar rates, curb smuggling and transmit their impacts to the common man. He instructed the relevant authorities to strictly deal with the hoarders and profiteers and viewed that the operation against power theft and smuggling had benefited the consumers. He said an 18 per cent reduction of wheat price and sugar by 16 per cent in Balochistan was welcoming. He said due to the administrative measures, the prices of 24 commodities had been reduced countrywide.
The meeting was told that a remarkable reduction in the prices of agricultural production, electricity, transport fares and industrial production was being ensured. The Planning Ministry was utilising the software application “Decision Support System for Inflation” designed by the National Bureau of Statistics to monitor the prices of eatables. The chief ministers of Sindh, Khyber Pakhtunkhwa and Punjab, and Balochistan chief secretary gave a briefing on the steps taken by them on the subject matter.
It was said that due to the administrative measures taken by the provincial governments, the transport fares had been reduced by 10 per cent. The meeting was told that an operation was going on against hoarders and profiteers. It was told that respective administrations were ensuring the reduction of commodities’ prices in accordance with the decrease in oil prices. In the meeting, the provincial administrations presented the indicators of the ratio in the reduction of prices and inflation.
The briefing was given on the reduction in eatables prices including dry ration, commodities, wheat flour, sugar, ghee, oil, fruits, vegetables and meat. It was told that the district magistrates at the district level in all the provinces were actively working to transmit the benefits of oil price reduction to the common man. The meeting was attended by caretaker federal ministers Murtaza Solangi, Gohar Ejaz, Kausar Abdullah Malik, Sami Saeed, Muhammad Ali and relevant senior officers. Cartaker Chief Ministers Mohsin Naqvi, Justice (Retd) Maqbool Baqir and Azam Khan, provincial chief secretaries and relevant senior officers attended the meeting via video link.