Petrol prices to soon drop further: Faisal Vawda

ISLAMABAD: Senator Faisal Vawda has delivered optimistic news to the public, announcing that petrol prices are expected to slashes further in the coming days, ARY News reported on Thursday.

Speaking at a press conference, Vawda highlighted the improving economic situation in Pakistan, suggesting that as petrol prices drop, inflation will follow.

The senator emphasized that several key economic indicators are moving in the right direction.

He pointed out that the dollar, which had been trading at over PKR 300.5, has now fallen, and Pakistan’s agreement with the International Monetary Fund (IMF) has been completed, which is expected to stabilize the economy further.

READ: Govt reduces petrol and diesel prices

Vawda also revealed that electricity will soon be available to the industrial sector at a rate of 9 cents per unit, a move aimed at boosting industrial productivity.

He credited these improvements to the Special Investment Facilitation Council (SIFC), which he believes is playing a crucial role in addressing economic challenges, including the longstanding issue of Independent Power Producers (IPPs).

Hinting at further positive developments, Vawda suggested that major news concerning Pakistan’s economy could be announced in the coming weeks.

He expressed optimism about the country’s current account deficit and the influx of investment, while also taking a jab at critics who question the government’s competence.