ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday directed Petroleum Minister Ali Pervaiz Malik to travel to Karachi and hold immediate negotiations with local oil refineries to explore a reduction in the price of locally produced diesel.
The directive was issued during a meeting between the prime minister and the petroleum minister. The Prime Minister’s Office said Shehbaz Sharif wants the negotiations to be concluded as quickly as possible so that any possible benefit can be passed on to consumers.
PM seeks immediate relief for consumers
According to the PM Office, the prime minister emphasised that a significant portion of Pakistan’s diesel requirements is met through domestic refineries. He therefore instructed the petroleum minister to engage directly with refinery management and work toward lowering the price of locally produced diesel.
The prime minister also stressed that maximum possible relief should be provided to the public immediately.
Why diesel prices matter
High-speed diesel is widely used across Pakistan’s transport and agricultural sectors. Goods carriers, buses and trains depend heavily on diesel, while farmers use the fuel for tractors, tube wells and threshers.
Any reduction in diesel prices could therefore have a wider impact on transportation costs and agricultural expenses. Lower fuel costs could also help reduce pressure on the prices of goods transported across the country.
Fuel prices recently increased
The government recently raised petrol and high-speed diesel prices. From August 19, petrol was increased by Rs3.34 per litre, while high-speed diesel went up by Rs5.27 per litre, taking their prices to Rs334.54 and Rs395.69 per litre respectively.
The latest increases followed further adjustments earlier in August, adding to concerns among transporters and consumers.
The All Pakistan Goods Transport Alliance had also deferred a planned nationwide strike after talks with the government, with fuel pricing among the major issues raised by transporters.
Petroleum minister to negotiate in Karachi
Petroleum Minister Ali Pervaiz Malik has been directed to reach Karachi without delay and personally engage with the country’s oil refineries.
The government is seeking a mechanism through which any reduction agreed with local producers can translate into lower prices for consumers.
However, no specific reduction in diesel prices has been announced yet. The final relief will depend on the outcome of negotiations between the government and refineries.
The move comes as the government faces growing pressure to reduce fuel costs and provide relief to households, transport operators, farmers and businesses.
