PM Shehbaz orders passing on benefits of oil prices reduction to masses

ISLAMABAD: Prime Minister (PM) Shehbaz Sharif on Friday directed the authorities concerned to ensure that the impact of a reduction in petroleum prices was shifted to the masses in the form of decreased transport fares and prices of eatables, ARY News reported.

The prime minister, chairing the meeting of the Federal Cabinet, asked the Interior Ministry and the district administrations across the country to ensure the reduction in commodities’ prices.

Calling for strict action against the profiteers, he said the transport fares and eatables’ prices should be reduced in proportion to the 11 percent decrease in the petroleum prices announced by the government.

Apprising the Federal Cabinet about his visit to Iran on Thursday, the prime minister said Pakistan desired to enhance cooperation with the neighbouring country in multiple sectors.

PM Shehbaz told the meeting that the two sides had agreed to improve the security along the 900-kilometer Pak-Iran border. Both sides had emphasised the joint efforts to counter cross-border terrorism, he added.

The prime minister said the import of low-cost electricity from Iran would help uplift the remote areas of Balochistan.

He further said Iranian President Ebrahim Raisi took a personal interest to ensure the completion of the much-delayed 100MW Gabd-Polan power transmission line within record time.

The project would ensure the power supply to southern Balochistan, particularly Gwadar, the premier remarked.

Similarly, PM Shehbaz said, the Mand-Pishin border marketplace would create employment opportunities for the people on both sides of the border and usher in a new era of development.

Shehbaz Sharif told the cabinet that the Iranian president had expressed special interest in enhancing bilateral trade, besides discussing cooperation in the fields of agriculture, science and technology, and solar energy. A high-level delegation led by Foreign Minister Bilawal Bhutto would visit Iran for further deliberations on the said projects.

The prime minister also extended an invitation to President Raisi to visit Pakistan which he accepted.

Briefing the cabinet members regarding the Road to Makkah project signed between Pakistan and Saudi Arabia on Wednesday, the prime minister said it would help facilitate the Hajj pilgrims.

Under the project, he said, around 26,143 Hajj pilgrims would undergo the immigration process at the Islamabad International Airport and would be exempted from the lengthy process at Saudi airports. The implementation of the project was initiated on Thursday and hopefully it would be extended to Lahore and Karachi airports by next year, he added.

The cabinet also approved the establishment of an Insurance Tribunal in Rawalpindi. It would incur no additional expenses as the existing Accountability Court No. 4 would be converted into the Insurance Tribunal.

It endorsed the decisions of the National Security Committee made in its meeting on May 16 and those of the Cabinet Committee on Legislative Cases made on May 11.

Govt reduces petrol prices

Finance Minister Ishaq Dar on May 15 announced the reduction in petrol price by Rs12 per litre, fixing the new price of petrol up to Rs270 per litre for the next 15 days.

The high-speed diesel (HSD) price was reduced by Rs30 per litre and the new price will be Rs258 per litre. Rs12 per litre has been reduced for kerosene oil and the new price will be Rs164.07 per litre.

Rs12 per litre has also been reduced for light diesel, reducing it from Rs164.68 to Rs152.68 per litre.