It has been decided to maintain the prices of petroleum products in Pakistan despite the reduction of three to four percent in the prices of petroleum products in the glob­al market. On the other hand, elec­tricity rates have been reduced by Rs 4.25 for October. According to the Ministry of Finance, petroleum prices will remain unchanged till the end of October. 

It should be noted that current­ly in Pakistan petrol is being sold at Rs 224.80, diesel at Rs. 235.30, light diesel at Rs 186.5 and ker­osene at Rs 191.83 per litter. Ac­cording to the summary sent by Federal Finance Minister Ishaq Dar and OGRA, a slight reduction in the price of petrol while increasing the prices of other products was sug­gested, on which the Prime Min­ister was consulted, but he dis­agreed with it. Decided to maintain the prices of petroleum products. While electricity rates have been reduced by Rs 4.25 per unit due to fuel adjustment for October, the quarterly adjustment will continue for September. 

However, the authority stated in its decision on October 14, 2022, for the fourth quarter of the fi­nancial year 2021-22 that the same rates will be charged to the consumers during the next four months. The reduction in elec­tricity prices has been welcomed by the public, but there has been a strong reaction to the fact that the benefits of the reduction in oil prices in the global market have not been passed on to the peo­ple because this is likely to inten­sify the ongoing wave of inflation, which the government seems to have failed to deal with. 

It should be remembered that Prime Minister Shehbaz Sharif as­sured that the fruits of this reduc­tion will be transferred to the peo­ple of Pakistan when the oil prices came down in the global market, but this promise is not being fulfilled.