The federal government on Friday reduced petrol and diesel prices by Rs 5, according to a notification issued by the Petroleum Division.
According to the notification, the revised prices will take effect from May 16.
Following the decrease, the price of petrol stands at Rs 409.78 per litre and that of HSD at Rs 409.58.
Meanwhile, the Punjab government on Friday relaxed business operating hour restrictions across the province until June 1, suspending the mandatory closure of markets and commercial centres by 8pm.
According to an official notification, the decision will apply to markets, shopping malls, hotels, restaurants and food outlets throughout Punjab, with the decision taking effect immediately.
Lahore Deputy Commissioner Ali Ejaz said the relaxation in market timings would provide relief to traders and make shopping more convenient for citizens.
“Providing relief to traders is the government’s priority,” he said, adding that there would no longer be a restriction requiring markets to shut by 8pm from Friday onwards.
Separately, Khyber Pakhtunkhwa Governor Faisal Karim Kundi and Chief Minister Sohail Afridi on Friday agreed to ease lockdown restrictions in the province in order to facilitate the public and support economic activities.
During a telephonic conversation, Governor Kundi proposed lifting lockdown restrictions on the pattern of Punjab and suggested exempting shops, markets, shopping malls and restaurants from the restrictions.
The chief minister agreed with the proposals and both leaders discussed measures aimed at balancing public convenience with economic stability.
Governor Kundi said relaxation in business timings for shops, markets and shopping malls would help reduce the financial losses being faced by the trader community.
The Governor said the government was fully aware of the difficulties being faced by traders and assured that steps would be taken to address their issues.
Both leaders also exchanged views on the overall situation in the province and matters concerning public welfare.
They agreed to adopt a joint strategy for promoting economic activities and ensuring maximum public facilitation.