Islamabad: Prime Minister Shehbaz Sharif addressed the nation and announced a major reduction of Rs. 80 in petrol prices, bringing the new price down to Rs. 378 per litre.
During his address, the Prime Minister said that oil prices are soaring across the region, creating new challenges for the common man. He highlighted that national resources are limited and global oil prices have surged significantly, while inflation has impacted even the world’s strongest economies.
He stated that he understands the difficulties faced by ordinary citizens in Pakistan and emphasized that all recent decisions were made after extensive consultation. He added that a high-level meeting was held at the President House, attended by national leadership including provincial chief ministers, the Prime Minister of Azad Kashmir, and senior officials.
The Prime Minister also announced multiple relief measures, including monthly subsidies: Rs. 70,000 for small trucks, Rs. 80,000 for large trucks, and Rs. 100,000 for public transport. Additionally, freight vehicles will receive a subsidy of Rs. 100 per liter, while small farmers will be given Rs. 1,500 per acre as financial assistance.
He further confirmed that economy class fares in Pakistan Railways will not be increased. The Prime Minister thanked provincial governments for their support and commitment to national relief efforts.
It is noteworthy that the government has already announced Rs. 129 billion in subsidies related to petroleum prices.
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