Summary
- Prime Minister Muhammad Shehbaz Sharif has announced a significant reduction in petroleum prices, stating that the benefits of improving regional economic conditions and falling global oil prices are being directly passed on to the public.
- The prime minister said that despite difficult regional economic conditions, including fuel rationing in some countries, Pakistan successfully avoided an energy crisis due to effective planning.
- The prime minister added that the government is committed to protecting citizens from global inflation and ensuring that any reduction in international oil prices is fully transferred to the public.
Prime Minister Muhammad Shehbaz Sharif has announced a significant reduction in petroleum prices, stating that the benefits of improving regional economic conditions and falling global oil prices are being directly passed on to the public.
He said that the government’s promise to provide relief to the nation is being fulfilled. According to the announcement, petrol price has been reduced by Rs74 per litre, while diesel price has been cut by Rs67 per litre.
After the revision, the price of petrol has decreased from Rs373 to Rs299 per litre, and diesel has dropped from Rs378 to Rs311 per litre.
The prime minister said the government fully understands the difficulties faced by the public and appreciated their patience during challenging times. He also thanked citizens for supporting the government through difficult economic conditions.
He stated that since the beginning of the crisis, the government had been trying to reduce fuel prices as much as possible through available resources and fiscal adjustments. He added that Rs129 billion was utilized through development budget savings and austerity measures to provide relief to the public and prevent a sharp rise in petroleum prices.
The prime minister said that despite difficult regional economic conditions, including fuel rationing in some countries, Pakistan successfully avoided an energy crisis due to effective planning. He noted that there were no fuel shortages, long queues, or disruptions in petroleum supply.
He further said that both the federal and provincial governments worked in coordination to maintain economic stability and expressed gratitude to provincial chief ministers for their cooperation.
The prime minister added that the government is committed to protecting citizens from global inflation and ensuring that any reduction in international oil prices is fully transferred to the public.
He said that maintaining economic stability and reducing inflation remain top government priorities, and further steps will continue in this direction.
The prime minister also highlighted that relief measures and subsidies were provided to vulnerable groups during the crisis, while austerity was maintained at the government level.
He said that ensuring maximum relief to the public remains the government’s foremost priority.
Referring to regional developments, the prime minister said that peace had been achieved in the Middle East through Pakistan’s mediation efforts. He stated that Pakistan played a constructive role in promoting regional stability, which led to the signing of a historic understanding in Islamabad.
He praised Field Marshal Syed Asim Munir for his role in achieving the peace agreement and also commended Deputy Prime Minister and Foreign Minister Ishaq Dar, Interior Minister Mohsin Naqvi, Finance Minister Muhammad Aurangzeb, Planning Minister Ahsan Iqbal, Economic Affairs Minister Ahad Khan Cheema, Petroleum Minister Ali Pervaiz Malik, and the entire economic and administrative team for their efforts during the crisis.
We welcome your contributions! Submit your blogs, opinion pieces, press releases, news story pitches, and news features to [email protected] and [email protected]
