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Petrol prices may drop by up to Rs59: Ishaq Dar

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Ishaq Dar says Iran-US talks are delayed due to Muharram, while petroleum prices in Pakistan may fall by up to Rs59 amid easing global oil prices.

ISLAMABAD (Dunya News) – Deputy Prime Minister and Foreign Minister Ishaq Dar said on Thursday that negotiations between Iran and the United States have been delayed due to Muharram-related commitments of the Iranian leadership, while signaling substantial relief for consumers through a major reduction in fuel prices.

Speaking informally at Parliament House, Dar said Prime Minister Shehbaz Sharif signed the Iran-US ceasefire agreement in the role of mediator. He added that the original plan was to hold the signing ceremony in Geneva, but the agreement was ultimately signed by the US president in France.

Dar said the delay in talks was linked to the Iranian leadership’s schedule during Muharram and stressed that no obstacles had emerged in the negotiation process.

He also said the government is working on a pricing adjustment that could lower petroleum product prices by as much as 59 rupees, describing the expected reduction as significant relief for the public.

The foreign minister further revealed that the funeral of Ayatollah Khamenei is expected in the first week of July, while the second phase of negotiations is planned to be completed within 60 days. He added that Pakistani officials stationed in Switzerland have been called back.

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