The federal government has announced a major reduction in petroleum prices, bringing significant relief to consumers across the country. Petrol prices have been cut by Rs74 per litre, lowering the new price to Rs299 per litre.
Meanwhile, high-speed diesel has been reduced by Rs 67 per litre, with the new rate set at Rs 311 per litre. The decision comes amid easing global oil prices and is expected to reduce transportation and business costs. The revised prices will take effect immediately, offering much-needed relief to motorists and businesses struggling with high fuel expenses.
Earlier, Prime Minister Shehbaz Sharif, while addressing the National Assembly, said that Pakistani citizens were aware of the difficulties but showed unparalleled patience and forbearance in difficult situations.
He also thanked the Pakistani nation for facing economic difficulties with patience.
PM Shehbaz said during his address that the federal government, by using 129 billion from the development budget and through austerity savings, provided the people of the country with as much relief as possible from the huge increase in oil prices.
During his address to the National Assembly in Islamabad on Friday, he said, “We had promised that we would bring the price of petroleum products down and repay each penny to the people”.
“So today, after our weekly review, we will announce a significant reduction [in the price of petroleum products],” the prime minister said, praising his ministers for managing the oil crisis.
“From Japan to Saudi Arabia, from Kuala Lumpur to Casablanca and from Mexico to India, Pakistan’s name is being mentioned with honour and respect,” he said, adding that many nations had sought such recognition for centuries.
