Finance Minister Miftah Ismail has said that the IMF has no objection to making petroleum products cheaper.
Talking to media, Finance Minister Miftah Ismail said that petroleum products would be cheaper today, adding that the Prime Minister wanted to give immediate relief to the people.
Miftah Ismail said that a summary has been received to reduce the price of petrol.
He said that he would not wait till July 15 to reduce the price of petrol. He said that the agreement with IMF should be congratulated by the entire nation and the nation stood by Shahbaz Sharif in difficult decisions.
Miftah Ismail further said that difficult times come to nations and Pakistani nation understands crises, after difficult times now is the time to give relief to the nation.
According to sources in the Petroleum Division, the price of petrol can be reduced by Rs 10 per liter while the price of diesel can be reduced by up to Rs 25 per liter.
An immediate reduction in the price of petroleum products will require the approval of the federal cabinet.
According to sources in the Petroleum Division, prices cannot be reduced before July 16 without the approval of the federal cabinet.
Sources also said that the federal cabinet has approved the revision in the prices of petroleum products on a 15-day basis.