The Pakistan Economy Watch (PEW) on Sunday lauded another major oil price cut by the prime minister, which will positively impact on masses and the economy. The significant fall in oil prices will appreciably reduce Pakistan's import bill and help balance the import and export imbalance.
The PEW said the price of oil has fallen for nine straight weeks to $66 per barrel in the international market which merits reduction in prices of essential items, transport expenses and electricity at home.
President PEW Dr Murtaza Mughal said that the government has provided relief to the people; therefore, the business community should also reduce prices of their products and pass on the benefit of decrease in oil prices to the masses.
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