Shehbaz Sharif introduces sweeping subsidies and price cuts to shield citizens from global inflation shock.
ISLAMABAD: Shehbaz Sharif announced a sweeping economic relief package in a televised national address, cutting petrol prices by Rs80 per liter and introducing targeted subsidies to ease the burden of rising global oil costs.
The prime minister said the new petrol price will drop from Rs458 to Rs378 per liter starting midnight, with the reduction applicable nationwide for one month. Motorcycle users will receive an additional Rs100 per liter subsidy, while public transport and goods carriers will also benefit from similar fuel support.
To stabilize transport costs, the government will provide monthly subsidies of Rs70,000 for small trucks, Rs80,000 for large trucks, and Rs100,000 for public buses. Sharif emphasized that the goal is to prevent rising freight costs from driving up essential commodity prices.
Farmers will receive Rs1,500 per acre in assistance, while Pakistan Railways has been directed not to increase economy-class fares. Cabinet members will donate six months’ salaries to the national treasury.
Sharif cited surging global oil prices due to ongoing regional conflict, noting Pakistan has already absorbed Rs129 billion in costs over three weeks to shield citizens. He stressed national unity and pledged continued efforts to restore economic stability.
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