Former PM Abbasi calls for decrease in fuel, electricity prices amid dramatic drop in global oil prices

ISLAMABAD: Former prime minister and senior leader of the Pakistan Muslim League - Nawaz (PML-N) Shahid Khaqan Abbasi on Tuesday said that the people of Pakistan should be provided relief in light of the dramatic drop in international oil prices. 

"The price of electricity can be reduced by one-thirds, if not by half, as a result of the drop in international oil prices," Abbasi told the media. Senior PML-N leaders standing alongside Abbasi said affirmed, calling for a 50% decrease in oil prices in the country.

US crude prices bounced back into positive territory on Tuesday, a day after crashing below $0.00 for the first time owing to crippled demand and a storage glut, while the commodity rout sent Asian equities sharply lower.

West Texas Intermediate for May delivery was changing hands at $1.10 a barrel after diving to an unprecedented low of -$37.63 in New York as the pandemic brings the global economy, transport and factory activity to a halt.

'Purpose of sugar inquiry is to facilitate corrupt'

Abbasi also answered questions about the sugar crisis in the country. "NAB should take notice of the sugar crisis in the country," Abbasi said wryly, adding, "We have no trust in NAB or the government. The true purpose of the NAB inquiry is to save the facilitators of the corrupt."

"The prime minister and the chief minister of Punjab are the facilitators of corruption in this regard," he added.  "A big chunk of the sugar that was exported was sent to Afghanistan. However, according to our sources, it was not sent to Afghanistan but rather sold in the international market," he claimed.

"We are also writing to the commission probing the sugar crisis. We want to appear before the commission," Abbasi said alongside senior PML-N leader Khurram Dastgir.