Prime Minister Shehbaz Sharif will address the nation tonight on the issue of reduction in prices of petroleum (POL) products.

Sources privy to the matter said the Prime Minister has decided to take the nation into confidence over the reduction in the prices of petroleum products.

Shehbaz Sharif will address the nation tonight, the Prime Minister’s address to the nation will be broadcast on state TV.

The government decided to reduce the prices of POL products, while the Oil and Gas Regulatory Authority’s (OGRA) summary was received by the Petroleum Division.

According to sources, petrol is likely to be cheaper by Rs17, high speed diesel by Rs40 and kerosene by Rs32 per liter.

Meanwhile, Federal Minister for Finance Miftah Ismail has said that will not wait for July 15 to reduce the prices of petroleum products, the prices will be reduced today.

He further said that summary of reduction in prices of petroleum (POL) products has been prepared, adding that the time and price will be decided by Prime Minister Shehbaz Sharif.

Miftah Ismail also said that efforts are being made to apply the new prices of POL products from today.

The Finance Minister said that the levy of Rs5 and Rs10 on petrol and diesel would be maintained, adding that the situation in Sri Lanka deteriorated because they did not make difficult decisions at difficult times.

He went on to say that now Pakistan is running like a normal country.