Government passes on the benefit of lower global oil prices, reducing petrol and diesel rates significantly while pledging continued economic relief measures.
ISLAMABAD: In a major relief measure for consumers, Prime Minister Shehbaz Sharif announced a substantial reduction in fuel prices, cutting petrol by Rs.74 per litre and diesel by Rs.67 per litre. The revised rates took effect from Friday night, marking one of the most significant fuel price reductions in recent years.
Under the new pricing structure, petrol has fallen from Rs.373 to Rs.299 per litre, while diesel has been reduced from Rs.378 to Rs.311 per litre. The government said the decision was aimed at transferring the benefits of declining international oil prices directly to the public.
Addressing the nation, the prime minister said the move fulfilled a commitment made by the government and reflected its determination to provide maximum relief amid ongoing economic challenges. He acknowledged the difficulties faced by citizens and praised their patience during a period of economic pressure.
Sharif revealed that approximately Rs129 billion had been mobilized through development budget adjustments and austerity measures to support relief efforts. He emphasized that effective planning helped Pakistan avoid fuel shortages and rationing experienced in some countries during periods of global market volatility.
The prime minister also credited coordination between federal and provincial authorities for maintaining stable energy supplies nationwide. He reaffirmed the government’s commitment to controlling inflation, strengthening macroeconomic stability, and supporting vulnerable communities through targeted subsidies.
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