LAHORE: Pakistan Muslim League-Nawaz (PML-N) President Shehbaz Sharif on Thursday urged the federal government to slash petrol price by at least Rs26 in the wake of massive slump in international oil prices.
Last week, the government announced to reduce the prices of all petroleum products by Rs 15 per litre for three months, bringing the petrol to Rs96 per litre.
Shehbaz, also the National Assembly opposition leader, said the cut won’t have any adverse impact on the expenditures of the Centre given the situation in the global market.
The underprivileged people should be taken care of, Shehbaz said, adding that labourers, daily-wagers, and people from the lower-middle-class deserved the government’s help.
“Traders, industrialists, and the business fraternity have always played a key role during trying times and now, in the current crisis, we have to help and guide them,” he added.
The PML-N leader explained that after having discussions in light of the ongoing pandemic, his party had set up a plan of action, which he claimed will help the public get rid of its present woes.
Late last month, as the worldwide coronavirus cases shot to more than 700,000 — they are almost a million, as of reporting time — crude oil struck the lowest levels in more than 17 years, with Brent North Sea tumbling to $22.58 per barrel at one point.
There are warnings that oil could sink even further as storage tanks around the world approached full capacity.