ISLAMABAD: Prime Minister Nawaz Sharif on Friday announced that petroleum prices would be reduced by Rs9.43 per litre in order to provide relief to the public, said a report published on Radio Pakistan.
The announcement was made by the prime minister while addressing a special meeting of the federal cabinet in Islamabad today.
He said the government was drastically reducing petroleum prices despite the fact that sit-ins and protests caused huge losses to the national economy.
The premier said the government was committed to bringing economic change in the country and provide relief to the people.
He said the government was moving towards economic stability, but sit-ins and protests disrupted the development process. He, however, expressed the resolve that the government will bring economic prosperity in the country.
Govt to act against those responsible for excessive billing: PM Nawaz
Prime Minister Nawaz also said the government would take action against those responsible for excessive billing in electricity dues, sources told Dawn.
The premier's remarks came after Special Assistant to Prime Minister on Energy Musadiq Malik put before the government a comprehensive audit report on over-billing in electricity dues.
The prime minister rejected the report and directed concerned officials to present a new audit before the cabinet in a week's time. The premier also directed officials to address consumers' complaints at the earliest and also hinted at compensating their dues in case of over-billing.
Also read: Massive over-billing by power companies
The meeting of the federal cabinet is still under way in Islamabad with Nawaz in the chair.
The cabinet is also reviewing the performance of three federal ministries and their respective ministers which include Minister for Petroleum Shahid Khaqan Abbasi, Minister for Planning, Development and Reforms Ahsan Iqbal and Minister for Railways Khawaja Saad Rafique.
Today's directive comes as power distribution companies, in the month of September, charged excessive electricity costs from consumers. However, following a public outcry, the federal government announced an investigation into the matter.