Pakistan, April 12 -- The Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has welcomed the federal government's recent decision to slash high-speed diesel (HSD) and petrol prices. On Friday night, Prime Minister Shehbaz Sharif had announced reduction of Rs135 per litre in diesel and Rs12 per litre in petrol prices.

With the announcement, diesel will now cost Rs385 per litre, and petrol Rs366 per litre. President of FPCCI Atif Ikram Sheikh said that the apex trade body termed this steep reduction "a much-needed breather for trade, industry and the general public alike".

The chief also commended that the reduction in petrol prices will provide supplementary relief across the supply chain.

"However, FPCCI advocates furth...