ISLAMABAD: Petrol prices have been reduced by 9.43 rupees per litre to provide relief to public, the prime minister announced on Friday while addressing the special meeting of Cabinet in Islamabad.
The prime minister said the government is drastically reducing petroleum prices despite sit-ins and protests causing huge losses to the national economy.
“The government is committed to bring economic change in the country and provide relief to the people,” said the PM, adding that the country was moving towards economic stability, but sit-ins and protests had disrupted the development process.
Audit report
Earlier, rejecting an audit report on inflated electricity bills, Prime Minister Nawaz Sharif ordered concerned authorities to refund overcharged bill money to consumers.
The audit report submitted to the premier revealed that energy consumers were charged over Rs2 billion in over-billing in July.
The report was presented during a special cabinet meeting called to discuss the issue of over-billing and performance of various ministries particularly Ministry of Petroleum and Natural Gas, Ministry of Planning and Reform and Ministry of Railways.
According to the audit, the over-billing was a result of debt adjustment, wrong meter reading and incorrect bills.
The report, however, failed to hold any official responsible. The prime minister, however, rejected the report and called for a reassessment. Sources in PML-N said that the cabinet decided to form a high level committee to probe the saga.
Officials said the Cabinet meeting could continue for three days, and could possibly continue after Muharram and the prime minister’s visit to China in the first week of November.
Over-billing
Distribution companies, which install electricity meters, had allegedly put up meters which functioned at a fast pace, hence increasing electricity costs. However, power companies were reportedly not aware of this issue.
As per government policy, meter readings for July should be taken again and additional money should be repaid to the consumers.
Economic Growth
Commenting on the current economical state of the country, the PM said that there has been a halt in economic growth which Pakistan had begun to experience prior to the sit-in in the capital.
“The country would have been in a much better state economically. However, there are those who have been a hindrance to the country’s growth and development,” the PM said, while rejecting all rigging allegations made by protesters in Islamabad.
He attributed a good economy to reduced poverty, better streets, better projects and dams, and new motorways.
The premier stood firm in his stance that any given government should serve their five year term before the next government comes into power.
“If we finish our five year term, we will work on improving and building a better Pakistan. We will then be able to give the next government a more stable Pakistan to build and grow further,” the PM explained.
The PM expressed regret about the Chinese president postponing his visit to Pakistan and added that this has extended to the president of Maldives as well and Sri Lanka.
“Investors no longer want to come to Pakistan and the value of the rupee is declining,” the PM said regrettably.
PM Nawaz concluded by touching upon petrol prices and urged the chief ministers of all provinces to focus on reducing transport costs so that the public could reap the benefits of lower costs.
Bus drivers refuse to reduce shares
After the premier announced that petrol prices will be reduced, the Karachi Transport Ittehad (KTI) said that they will not reduce their fares until diesel prices aren’t brought down to Rs93.
The premier stated that only petroleum prices will be reduced, whereas roughly 90% of the public transport in Karachi is run on CNG and diesel. Hence, the KTI has decided not to reduce their fares.
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