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A day after Prime Minister Nawaz Sharif announced a reduction in petroleum products'' prices, petrol pump owners across Punjab shut down petrol stations on Saturday to protest the reduction in prices, a TV channel reported. Petrol pump owners in Lahore, Faisalabad, Multan, Bahawalpur, Sialkot and other cities in the province shut down pump stations, causing inconvenience to people.
Petrol stations that were still in operation were selling petrol above the market rate - up to Rs 110 per litre. Petrol pump owners claimed that they had purchased petrol at a higher price and would sell it at that price until their stocks exhausted. Taking notice of the situation, DCO Lahore said action was being taken against petrol pump owners.

Copyright Business Recorder, 2014

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