In an embarrassing blunder, the federal government made a late-night U-turn on its earlier announcement of a Rs. 15.4 per liter cut in petrol prices. The finance ministry later issued a notification confirming a reduction of only Rs. 4.74 per liter.
At around 10:30 pm on Friday, the press wing of the prime minister’s office announced that Prime Minister Shehbaz Sharif had approved a Rs. 15.4 per liter cut in petrol prices and a Rs. 7.9 per liter cut in high-speed diesel prices. The statement also quoted the premier, highlighting that government policies had significantly reduced inflation.
Contrary to routine practices, the Ministry of Finance did not issue any notification about the announced cut before midnight.
The official notification from the Ministry of Finance stated that petrol had been reduced by Rs. 4.74 per liter, and the price of diesel by Rs. 3.86. The new prices are Rs. 268.36 per liter for petrol and Rs. 270.22 per liter for high-speed diesel.
No explanation was provided by either the Prime Minister’s Office or the finance ministry regarding the discrepancy between the initial announcement and the actual reduction in petrol prices. Thousands of citizens will now wake up to the disappointing realization that the anticipated major reduction in petroleum prices was incorrect.
