Anticipated Petrol Price Reduction Due To Dollar Depreciation, Says Caretaker Minister

(MENAFN- Tribal News Network) Caretaker Information Minister Murtaza Solangi has expressed optimism about a potential reduction in petrol prices in the upcoming fortnightly review, attributing it to the depreciation of the dollar.

Caretaker Commerce Minister Gohar Ejaz has also indicated that the nation can anticipate favorable news on October 1. Concerns over inflation have been mounting, and it is expected that the price of petrol will decrease at the beginning of the month. Efforts are also underway to reduce electricity prices.

Speaking with journalists at the Karachi Press Club on Saturday, Minister Solangi highlighted that the government's concerted efforts have contributed to a significant Rs 35 decrease in the value of the dollar. This, in turn, has led to reduced costs in procuring petrol.

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Addressing the issue of petroleum product prices, Murtaza Solangi mentioned that if there were arrangements to increase oil production, they would have considered lowering petrol prices accordingly. As the dollar has depreciated, endeavors are underway to bring about a reduction in petrol prices.

The caretaker minister also touched upon payments made to address electricity theft, which have amounted to approximately 8 billion rupees. The government's primary focus remains on stabilizing the country's economy. While they may not possess legislative powers, they are committed to taking action within their capacity to address and resolve pressing issues.

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