Days after a significant reduction in petroleum prices, Prime Minister Shehbaz Sharif has directed relevant authorities to ensure that the benefits of this decrease are passed on to the general public through lower transport fares and reduced prices of essential items.
In this regard, the PM chaired a federal cabinet meeting on Friday wherein he emphasised the need for ministries and district administrations across the country to implement these price reductions.
He stressed the need for strict action against profiteers and called for proportional reductions in transportation fares and the prices of consumables, aligning with the 11% decrease in petroleum prices announced by the government.
On May 15, the federal government, led by the Pakistan Democratic Movement (PDM), announced a reduction of Rs12 per litre in petrol prices, bringing it down to Rs270 per litre following a decrease in international oil rates.
During the cabinet meeting, PM Shehbaz updated attendees on his recent visit to Iran, expressing Pakistan’s desire to enhance cooperation with its neighboring country across various sectors.
One significant development highlighted by the premier was the import of low-cost electricity from Iran, which would contribute to the upliftment of remote areas in Balochistan.
The prime minister shared that President Raisi expressed special interest in enhancing bilateral trade and exploring cooperation in other fields. To further discuss these projects, a high-level delegation led by Foreign Minister Bilawal Bhutto will visit Iran whereas President Raisi is also expected to visit Pakistan.