Prime Minister Shehbaz Sharif on Friday announced a major reduction in petroleum prices, lowering petrol by Rs74 per litre and high-speed diesel (HSD) by Rs67 per litre. The move comes as the government seeks to pass on the benefits of falling global oil prices and an improving regional economic environment to the public.
According to the announcement, the price of petrol will decrease from Rs373.78 to Rs299.78 per litre, while high-speed diesel will fall from Rs378.78 to Rs311.78 per litre. An official notification regarding the revised prices is expected to be issued shortly.
Speaking in the National Assembly earlier in the day, Prime Minister Shehbaz said the government had fulfilled its promise to provide relief to the people whenever international oil prices declined. He noted that the reduction was made possible by easing tensions in the Middle East following the peace agreement between the United States and Iran, as well as the restoration of energy shipments through the Strait of Hormuz.
The prime minister acknowledged the difficulties faced by citizens during recent economic challenges and thanked the public for their patience and resilience. He said the government fully understood the hardships experienced by ordinary Pakistanis and appreciated their support during a difficult period.
PM Shehbaz also praised the cooperation between federal and provincial governments, stating that close coordination helped maintain economic stability across the country. He emphasized that authorities had taken every possible measure to shield the public from the effects of global inflation.
The premier reaffirmed that any future decline in international oil prices would be passed on to consumers in full. He added that the government would continue implementing policies aimed at strengthening the economy, controlling inflation, and providing relief to the people.
Highlighting the government’s efforts, PM Shehbaz said austerity measures had been introduced at various levels while subsidies were provided to low-income and vulnerable segments of society. He stressed that delivering maximum relief to the public remains the government’s top priority.
