Massive cut in the petroleum prices on cards across Pakistan
LAHORE: Rs 20-25 cut in petrol price is expected in the country following one-day rout in nearly 30 years in global oil prices as investors eyed the possibility of economic stimulus despite a price war between top producers Saudi Arabia and Russia, a private TV channel reported.
Meanwhile, Special Assistant to Prime Minister on Petroleum Nadeem Babar has said that falling petroleum prices around the world would help benefit economy of Pakistan besides reducing inflation issues confronting the common man in the country.
READ MORE: Russia says it’s ready for $25 a barrel oil link
Talking to a private news channel, he said Prime Minister Imran Khan has directed the authorities concerned to formulate a comprehensive strategy regarding petroleum products.
Replying to a question, Nadeem Babar said there is dire need to upgrade Pakistan’s oil refinery sector.