Pakistan Rupee Exchange Rate
In a move likely to be embraced by consumers, the federal government announced an immediate reduction in petroleum product prices.
The new price mechanism reflects modest decreases across a number of fuel types and offers some respite in the face of an increasing cost of living.
It has come down by Rs 1.86 per litre, which now it would be available at Rs 259.10 per litre. While the price of high-speed diesel has to be reduced by Rs 3.32 per litre to Rs 262.75 per litre.
Kerosene oil is also downgraded to Rs 169.62 per litre from its previous rate. In light diesel oil, the price was reduced by Rs 2.97 per litre that further brought the price to Rs 154.05 per litre.
This price slash was one among a succession of moves from the government trying to rein in the growing spiral of inflationary pressures and grant the public some reprieve. The slashing of fuel prices, it was expected, would affect transport costs and, hopefully, would pull the prices of basic goods and services down.
