ISLAMABAD: The Ministry of Finance has announced a reduction in fuel prices, cutting petrol by Rs4.74 per litre and high-speed diesel (HSD) by Rs3.86 per litre, after initial confusion over the extent of the cuts.
The announcement came following state-run television reported that Prime Minister Shehbaz Sharif had directed a more substantial decrease of Rs15.4 per litre for petrol and Rs7.9 per litre for diesel for the next fortnight. However, the premature report, posted on PTV’s social media account, was quickly retracted.
Several news channels and media outlets picked up the incorrect figures, believing them to be accurate. The PM House soon issued a clarification, stating that the figures mentioned were outdated and related to adjustments from the last month.
Subsequently, the Ministry of Finance released its fortnightly notification, confirming the new, more modest reductions in the fuel prices.
Prior to the official announcement, it was widely predictable that the decrease in petrol prices would not exceed Rs5 per litre. The premature report of a Rs15 decrease had surprised many people and experts, as it was significantly higher than anticipated.
