Govt Takes U-Turn on Petrol Price, Announcement of Rs. 15 Per Liter Cut Proves False

In an embarrassing gaffe, the federal government took a late-night U-turn on its earlier announcement of a Rs. 15.4 per liter cut in the price of petrol as the finance ministry issued a notification of a Rs. 4.74 per liter cut in petrol price. Around 10:30 pm on Friday, the press wing of the prime minister’s office issued a statement saying that Prime Minister Shehbaz Sharif has approved a cut of Rs. 15.4 per liter in the price of petrol, and Rs. 7.9 per liter in price of high-speed diesel. The statement further quoted the premier as saying that government policies have resulted in a significant reduction in inflation. However, contrary to the routine practice, no notification of the said cut was issued by the Ministry of Finance before midnight. According to a notification issued by the Ministry of Finance, the price of petrol has been reduced by only Rs. 4.74 per liter while the price of diesel has been cut by Rs. 3.86. The new price of petrol will be Rs. 268.36 while the new price of high-speed diesel will be Rs. 270.22 per liter. No explanation was offered by the Prime Minister’s Office or the finance ministry regarding the earlier announcement of a Rs. 15 per liter reduction in the price of petrol. Thousands of common citizens will now wake up to a rude awakening when they realize that the announcement of a major reduction in petroleum prices was incorrect.