PM Nawaz announces reduction in petrol price by Rs9.43 per litre
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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.
More on this: Attorney general, Nepra issued notices in overbilling case
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On DawnNews
Comments (109) Closed
Oct 31, 2014 12:44pm
Would all this have had been done (i.e. investigate into over-billing), had IK not made people realise their fundamental democratic rights? Probably not.
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Oct 31, 2014 12:51pm
Change is in the air!!!
The government is going to act on itself...
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Oct 31, 2014 12:56pm
Shouldn't the people of Pakistan register a case in High Courts and the Supreme Court against WAPDA, LESCO, Government in Power, whoever is responsible. If this is not daylight robbery to replace meters with faster meteres, then I dont know what is.
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Oct 31, 2014 12:59pm
So you will be taking action against your own 'bhanja'? That's not the way to treat your family members.
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Oct 31, 2014 01:02pm
would the federal minister and minister for state be also made responsible and accountable?
lets see
or is it gonna be a some meter reader will be punished
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Oct 31, 2014 01:06pm
Who pays the bills of Shariff's family's personal properties. Government or Sharrifs? Will somebody check and confirm.
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Oct 31, 2014 01:11pm
Govt will act only because PTI brought this to people's attention. Not the fake democrats sitting in parliament. And act only since PTI will show people if they dont act and try to sweep it under the rug.
Well done PTI.
.
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Oct 31, 2014 01:53pm
This is why I love NS. Respect!!
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Oct 31, 2014 01:58pm
@Kamal Pasha
Raiwand estate of Sharif's has been declared as PM house via a notification, hence the bills and cost of security are borne by the tax payer.
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Oct 31, 2014 02:01pm
thank you imran khan...this is all coz of your untiring efforts..may Allah bless you..protect you..and give you an emphatic win over these corrupt PMLN and PPP goons.
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Oct 31, 2014 02:02pm
GOOD STEP. keep up the good work. PMLn should deliver by performance.
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Oct 31, 2014 02:03pm
THAT IS THE WAY FORWARD. In every democracy there is room for improvment working together is better than working aginst each other.
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Oct 31, 2014 02:04pm
Appreciated!!! Show progress & help people of Pakistan; Give something to our people., You & the previous governments did not take an initiative to provide the basic necessity Electricity & Water., all we have seen is Bloodshed., consult your neighboring countries & take initiative to build a solid infrastructure & provide basic necessity.
Let's rebuild Pakistan.
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Oct 31, 2014 02:04pm
Wow! petroleum prices reduced by Rs9.43 per litre! Great news for economy. This bold step should be applauded by all. Well done Mr. PM.
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Oct 31, 2014 02:06pm
I belive this is a raection to the reduction in the price of oil globally. A step in the right direction. my local petrol station in england was 121.9p for unleaded today and 125.9p diesel Thats around a drop of 6p in last 2 weeks
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Oct 31, 2014 02:07pm
You have to dear because Ik has already declare this. Still you are pocketing Rs. 6/- per liter.
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Oct 31, 2014 02:09pm
What a Joke! The international prices of Petrol have been on decline since 2 weeks. In other countries, the prices of Petrol are revised every day and in Pakistan the PM has to announce this only for point scoring.
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Oct 31, 2014 02:10pm
@Kamal Pasha: One one else but we people of Pakistan pay all the bills of luxuries of Nawaz and family.
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Oct 31, 2014 02:10pm
Well done. Imran Khan. All credit goes to you. You are doing what the 'friendly ' opposition was supposed to do, and that too, from outside that farcical ' parliament'. Congratulations.
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Oct 31, 2014 02:15pm
Oil prices in International Market have slumped to about $80 from $105 a barrel, this is no achievement of Nawaz Sharif, as a matter of fact the prices should have gone down to about Rs17 a litre.Why Nawaz is using this as a Political weapon? We all know that this is an eye wash because they are stealing Rs7 a litre despite this reduction.
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Oct 31, 2014 02:17pm
having massive subsidies for fuel will only weaken the economy in the long run
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Oct 31, 2014 02:18pm
Why provide relief now? Will govt only act when people come out on streets?
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Oct 31, 2014 02:21pm
Public awareness is paying back, hats of to IK and media who let us know our rights and exposed the ill deeds of the rulers
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Oct 31, 2014 02:22pm
The government must also ensure that after the reduction in fuel prices, the transporters must also reduce the bus fares to provide further relief to the poor people who are burdened with high inflation. Transport mafia increases the fares immediately upon increase in fuel prices but never reduces the fares on reduction of fuel prices. This is an opportunity for the government to show that it has learnt some lessons and improved its governance.
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Oct 31, 2014 02:26pm
22% decrease in oil prices in International market 4 months ago. And just 8 percent decrease in local market after 4 months??? What a shame PMLN!!!
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Oct 31, 2014 02:35pm
Why government is giving such an impression that they have given a huge reef to public. Oil prices are connected to International markets (not truly) so government had to reduce earlier, but government get late. Well, still it is good for public.
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Oct 31, 2014 02:37pm
How desperate and stupid is this man. The price of oil has been falling since June due to the record amount of oil being produced in the USA. Here in the UK price falls are happening almost every week. This has nothing to do with Sharif so don't let him fool you. Just google it and you will see that oil has fallen massively.
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Oct 31, 2014 02:37pm
Great! good news after a long time.
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Oct 31, 2014 02:45pm
Mr. PM you are not doing us a favour. The prices has gone down in the global market almost a week ago. Infact your goverment charged us extra.
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Oct 31, 2014 02:46pm
The price has decreased worldwide by the same or more amount-here in the UK by more than 10P ( which equals to almost RS15 ). The title of the news somehow makes the reader believe the price has been reduced on NS's special directive!
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Oct 31, 2014 02:50pm
This nation can not give up luxuries of imported stuff or save energy including Petrol but they want this on subsidised rates.
Lucky IMRANI Circus is all talks, they can not deliver anything nor they are mature enough to run a country.
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Oct 31, 2014 02:50pm
Crude oil prices in international market have dropped more than 25% since june 2014. The government must reduce the prices of all oil products proportionately. Resource boom is over and now we can expect subdued commodity prices in foreseeable future. Good news for net commodities importing countries like Pakistan.
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Oct 31, 2014 02:59pm
Well done Mr. NS! Late but a good decision!
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Oct 31, 2014 03:01pm
Why does it seem like a pre-election bribe to the public ?
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Oct 31, 2014 03:02pm
@being human Gold, crude oil, silver are trading at four years low in international market. The price of oil has dropped from $107 per barrel in june 2014 to $82 per barrel in international market so government has not yet passed on the full benefit of price decrease to consumers.
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Oct 31, 2014 03:02pm
This is a good step by the PMLN Government at the Centre.
The Federal Government should now force the provincial governments to reduce the fares and pass on the benefit to common man.
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Oct 31, 2014 03:03pm
Agree with hrk! Its a joke and he's fooling the public as usual.
And Naveed Ahmed, you have been either asleep or a slow learner to notice that this is the 3rd time NS is the PM and PMLn is in power in Punjab for many many years and same goes for PPP and they have NOT delivered ... NS's actual beginning goes back to General Zia's marshal law...
And could also have vested interests that you so ignorantly hope that this "tola" continue with what they have done since 1988. be honest to yourself for once.
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Oct 31, 2014 03:04pm
Nawaz, you are doing this because you are forced by Imran Khan. Don't try to score political points.
Also, stop making nonsensical statements that dharnas have caused a great damage to economy. Dharnas have not caused any damage. If you are right, then prove it. You have to learn to talk sense. More you act stupid, more you will go down.
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Oct 31, 2014 03:04pm
@hrk sir, you need to improve your knowledge about pricing system. The prices move freely in developed economies. But in a developing countries like Pakistan the prices are set at each month-end (formula set by Shaukat Aziz under Mush in 2004).
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Oct 31, 2014 03:13pm
So prices fall finally. Had it not been IK, prices would had dropped by 2-5 rs max. Same way billing issue came up thanks to IK. Now the prices few months back should had been 100 but they kept at 107 that time. they were ripping us off
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Oct 31, 2014 03:19pm
Tabdeeli aa nahee rahee. Tabdeeli aa gayee hay. Thank you Imran Khan for putting the government on notice.
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Oct 31, 2014 03:21pm
Its because of IK that you have started to work... he is giving you real opposition... Go Nawaz Go
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Oct 31, 2014 03:26pm
What a great leader , while india is increasing prices , nawaz is taking consideration of poor people and reducing the prices.
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Oct 31, 2014 03:28pm
Oil prices have dropped in the international market for a while mo, why is it so late?
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Oct 31, 2014 03:29pm
Why not tell the truth as it is: the price of oil has fallen to $80-85 per barrel and consequently one can reduce the price of petrol. NS is trying to take the honor for something he has no control over.
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Oct 31, 2014 03:40pm
Global oil prices are declining and hovering around $80 per barrel. Yet PMLN supporters would have us belive that nawaz somehow managed to reduce prices due to his good goverance! Gullu logic strikes again!
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Oct 31, 2014 03:55pm
I am a PTI supporter.
I will definitely support Nawaz Shareef in the good steps he takes.
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Oct 31, 2014 04:00pm
Thanks IK.
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Oct 31, 2014 04:02pm
Cha gaya ha Imran. People really starting love you.
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Oct 31, 2014 04:03pm
Thank you IK. Credit should go where it belongs.
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Oct 31, 2014 04:14pm
Non of UK residents mentioned that petrol prices are Rs 200/Litre in UK these days.
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Oct 31, 2014 04:30pm
Forced by Imran?
Do you guys really know the dynamics of pertol price setting? I mean ... leave it, you dont want to understand.
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Oct 31, 2014 04:32pm
The oil prices started dropping globally 5 months ago, government of Pakistan does deal 3 months in advance and now PM is taking credit for reducing the prices! Why doesn't he come to the media when oil prices are increased? He is very selective when it comes to PM of the country. Secondly, how come PM 'reject' the audit report and why is he asking the same people to do it again? Definition of insanity is doing same thing over and over again and expecting a different result.
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Oct 31, 2014 04:38pm
why PM is announcing? where is the regulator whose job is to do such things.
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Oct 31, 2014 04:39pm
The new digital meters installed lately also show higher readings. This factor has to checked also and corrected.
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Oct 31, 2014 04:42pm
What is good news in reducing the fuel price? Is it because of u? Not at all. it is an international impact.
Dharna is good because of it all the people in Pakistan came to know that this present government is involved in appointments of their family members on top posts without merit, bad governess, non deliverance as per pre -election promises.
Dharna is no reason for your slow progress.Be realistic. In fact this Dharna has showed u the way of Parliament. Sincere work is the answer of all criticism.
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Oct 31, 2014 04:47pm
Fixing petroleum prices is the responsibility of OGRA, the regulatory body and not the PM of Pakistan.
When prices are raised OGRA is blamed.
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Oct 31, 2014 04:47pm
I cannot understand why PM is making announcements, taking notices on issues which is domain of relative ministries. Is it point scoring?
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Oct 31, 2014 04:54pm
Petrol price in the world have dropped more then 30 percent,he is not changing from his pocket.and he is changing of the fear of imran.
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Oct 31, 2014 05:04pm
@kash This reduction is price is due to the global reduction in oil prices where he is taking the credit as something he has done. Shame to the people who vote for them
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Oct 31, 2014 05:05pm
In what country does a PM announce prices of petrol?. Good on our Imran Khan who has brought government back to its size.
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Oct 31, 2014 05:20pm
Thank you imran khan its because of your dharna tha gov.is providing relief now !!!!
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Oct 31, 2014 05:48pm
Reading thru these comments, the degree of naiveté demonstrated by some readers (obviously PTI followers) is simply mind-boggling!!! They are QUICK to credit IK and his Dharna pranks for this petrol price reduction), totally oblivious of the fact that this price reduction is entirely a function of steep crude price decline in the world markets, and has absolutely nothing to do with IK, or for that matter, PML(N) govt. You don't have to be a genius to figure this out; this only requires basic math skills!!! Talking about his Dharna, I believe, at one point, IK had the opportunity to negotiate from position of strength, and maximize legitimate. IK, instead, chose to allow his ego to reach giant proportions, and in the end, managed to skillfully squander that opportunity. Right now, perpetuation of his Dharna comedy is only resulting in diminishing returns, but I bet IK is totally unaware of that, and sadly, nobody in his party would dare call a spade a spade!!!
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Oct 31, 2014 05:54pm
Thank you sir ! We are truly on a path to recovery. Goldman Sachs has mentioned Pakistan as one of the significant emerging markets to look for growth by 2020.
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Oct 31, 2014 05:59pm
Thanks a relief came from the government, well done Nawaz Govt.
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Oct 31, 2014 06:00pm
late decision because petrol prices worldwide are low for some time now...but government wanted to keep making money!
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Oct 31, 2014 06:02pm
PTI playing true Opposition role....
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Oct 31, 2014 06:17pm
I don't really understand. Why did the Prime MInister have to make this announcement?. Is it not a routine matter for the oil & gas ministry?. Does he make the announcement when the prices are increased?. I really wish our Prime MInister was an intelligent person. I wonder what his IQ is?. The only reason prices have come down is the fact that world oil prices have come down. Does he really think Pakistanis are so stupid that they won't know this fact?. Oh, perhaps he wants to take credit for this reduction in price?.
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Oct 31, 2014 06:19pm
How gullible and ignorant the poor nation is..... he is reducing the prices because he can due to a drop in international oil prices....... but he will try to score points..... and everyone here seems to be thanking PTI!!!
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Oct 31, 2014 06:26pm
My vote for PMLn
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Oct 31, 2014 06:37pm
all credit goes to IK. If not for him, they would have never reduced the price despite the price went down in the entire world. The govt. would have collected the extra money for their own pocket. This is what real opposition does in real democracy. Unfortunately, in the previous term and in this term, there is friendly opposition sitting in the parliament whose only goal is to save fake democracy despite they all agree that the elections were rigged. What a contradiction in their statement.
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Oct 31, 2014 06:40pm
Typical Pakistani politics PM. Form probe Committees for cheats to get ample time to manipulate things in their favour and take credit caused by other elements.Kudos to PM jee Kudoos!
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Oct 31, 2014 06:40pm
Should have had taken this step months back when the Oil prices went down record low in the international market.
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Oct 31, 2014 06:41pm
I think cut in electricity price top priority where an average person could take benefit. Further social reforms needed. Anyhow thank Nawaz Sharif. Better late than never.
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Oct 31, 2014 06:42pm
@Shuaib Bhat he already made his billions from your pocket - They were buying low from International market and selling you in MEGA price all this time.
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Oct 31, 2014 06:45pm
Credit goes to pti they raised these issues Imran deserves to lead this country
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Oct 31, 2014 06:45pm
Biggest reduction is in Hi Octane prices, which is used by expensive cars like Mercedes and BMW, so the rich will get the maximum benefit. If you look at it honestly, this is no favor. It is only due to a huge drop in international petroleum prices. Sadly things that are normal in other countries are considered a favor by our government.
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Oct 31, 2014 07:15pm
@Md Imran After the departure of NS; very correct.
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Oct 31, 2014 07:18pm
I do not support NS and this could be a publicity stunt to take advantage of a global decline in oil price, or not. Taking action on bill inflation by electricity suppliers is responsive governance. To credit x, y, z, ik for any popular act by government is simply ludicrous.
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Oct 31, 2014 07:20pm
This happened due to IK pointed out during Dharna. Imran Khan Zindaabad. All credit goes to IK.
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Oct 31, 2014 07:42pm
Stay Nawaz Stay.
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Oct 31, 2014 07:44pm
Is there any Pakistani out there who sees this as a short term decision. Crude prices have gone down worldwide, so Pakistan had the option of keeping petrol prices steady over a long term or slashing them now and raising them again later. Economists will show that steady prices always lead to better growth, but that's too much for the volatile state of affairs in Pakistan. Imran Khan is contributing to the volatility --- what an opportunist?
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Oct 31, 2014 07:44pm
Well done PTI! Has this ever happened in History? I bet the sooner the sit-in is called off, the sooner they will again increase the price.
Nawaz should thing again that public is not foolish or Dar should do so as well.
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Oct 31, 2014 07:46pm
Must appreciate this act. Well done govt.
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Oct 31, 2014 07:50pm
Why the oil prices were so high previously? Any ways....thank you IK.
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Oct 31, 2014 08:02pm
@SG Baloch over billing is a theft.
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Oct 31, 2014 08:07pm
@Shahram if u afloat the change will never come. Make it happen in being proactive.
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Oct 31, 2014 08:14pm
@Kamal Pasha the government. Who else
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Oct 31, 2014 08:20pm
@being human Was 65 years with no economical change is a short run.
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Oct 31, 2014 08:24pm
I am astonished at the way pseudo-intellectual youthias trying to give the credit of every good step of the incumbent government to Khan and showing misery in acknowledging the good steps.
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Oct 31, 2014 08:28pm
@Real Truth
Read through your entire comment. Still didn't find where you called a spade a spade either. Please enlighten us.
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Oct 31, 2014 08:49pm
The priceof petrol has significantly gone down in the world market and he is only following course because of the dharna's of IK.
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Oct 31, 2014 09:03pm
the oil prices in world were already down for sometime and the gov has been over charging people. But the public transporters will not bring down their rates so no relief on that front. the power producing companies will benefit from all this as they will buy cheap petrol and sell expensive electricity.
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Oct 31, 2014 09:22pm
Because of sit-ins and protests , Our PM has no other option but to appease the people of pakistan by lowering price of commodities. Give us What we , the people of Pakistan rightly deserve. Basic HUMAN RIGHTS.
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Oct 31, 2014 09:28pm
The crude oil prices have dropped from $115 (june) to $83 /barrel (Sept30) this year. govt. should done this in the first week of October BUT they waited for political gain for themselves rather than any benefit to masses! clever fox move.
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Oct 31, 2014 09:36pm
@PIA wake up dude.. check indian papers also. This is the 6th time since june that the prices have been cut in India. I am not sure of price in Pakistan, but here in Mumbai its around INR.70. In Goa it costs around INR 45-50.
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Oct 31, 2014 09:48pm
Well done Nawaz Sharif. We trust you
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Oct 31, 2014 09:49pm
@Shahram
Mission accomplish . End dharni and go home
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Oct 31, 2014 09:51pm
What dharna ? No more than 5,000 ppl left in Islamabad and that too after 9pm. More ppl can be seen at the Islamabad zoo than at the dharna.
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Oct 31, 2014 10:31pm
Petrol prices have nothing to with sit ins. They are governed by international prices. The prices of crude Barrel have dropped drastically still reduction of Rs 9.43 /lite only why? Cut back some of your expenditure Mr PM. top give some relief. Your rich enough to pay for your own expenses and by the way travel in Economy and that to by PIA. All I know is that you elcted
yourself PM not to become a King.
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Oct 31, 2014 11:47pm
Reduction announcement is made by PM, but increases are announced by press releases. lol
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Nov 01, 2014 01:14am
@Imran Khan It was reduced from 113 to 93 in last 8 months, wich is more then 20%. Hope Dawn moderator will publsh this, as my all posts r not getting public
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Nov 01, 2014 01:14am
Keep up the good work PM
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Nov 01, 2014 02:12am
Goodness, international prices went down and because IK has shaken the Govt, Govt is willing to reduce the prices - imagine if shake-up had not happen !!!!
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Nov 01, 2014 03:25am
I live In. Canada and not a cent dropped here oil prices have just risen here
Appreciate the good of this govt
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Nov 01, 2014 04:55am
Announcement of Price hike by OGRA and THAT OF reduction by PM but people know that this is not because of you but it is the international prices of petroleum came down. PM people are no more fool.
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Nov 01, 2014 05:14am
OPEC members are in a state of competition. 20% reduction in oil prices worldwide. Nawaz Sharif has not done any favors!!
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Nov 01, 2014 06:28am
Fool me once, shame on you; fool me twice, shame on me. We have been so robbed off of our senses that merely a glimmer of promise seems to make us erupt in euphoria now. Time to get over it! Stop expecting these folks to be able to deliver at any level in any capacity - even if they want to and are sincere enough (which is a huge if, by the way) - for the simple reason that their entire setup consists of people who have no qualification of any kind whatsoever.
Therefore much as I would like to believe in these news, I know for sure that nothing will change unless we actually make an effort for real change.
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Nov 01, 2014 06:57am
Thank you IK.
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