Petroleum in Pak to reduce by Rs 5

{image-yousuf raja gilani_14082008.jpg news.oneindia.in}Lahore, Aug 14: The federal government might announce a cut in the petroleum prices by Rs 5 in near future, as told by sources in Pakistan Petroleum Ministry. The country's Prime Minister Yousuf Raza Gilani is likely to approve the decision of lowering the petroleum prices within two days, the Daily Times quoted the ministry sources as saying.

Meanwhile, the federal government is also likely to announce a 15 percent hike in the electricity prices within a week. Nine power-supply companies had asked the National Electric Power Regulatory Authority (NEPRA) for a 25 to 35 percent increase, said Pakistan government officials.

ANI