In an embarrassing reversal, the federal government made a late-night correction to its earlier announcement of a Rs. 15.4 per liter cut in petrol prices. Instead, the finance ministry issued a notification indicating a more modest reduction of Rs. 4.74 per liter.
At approximately 10:30 pm on Friday, the press office of the prime minister announced that Prime Minister Shehbaz Sharif had approved a reduction of Rs. 15.4 per liter in petrol prices and Rs. 7.9 per liter in high-speed diesel prices. The statement attributed the reduction to government policies, claiming they had significantly lowered inflation. However, unlike the usual procedure, no official notification from the Ministry of Finance was released before midnight.
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The actual reduction, as per the Ministry of Finance’s notification, is only Rs. 4.74 per liter for petrol and Rs. 3.86 per liter for diesel. This adjustment sets the new price of petrol at Rs. 268.36 per liter and high-speed diesel at Rs. 270.22 per liter.
Neither the Prime Minister’s Office nor the finance ministry provided an explanation for the earlier, inaccurate announcement of a Rs. 15 per liter petrol price reduction. Consequently, many citizens will wake up to the disappointing realization that the anticipated substantial decrease in fuel prices was incorrect.
