ISLAMABAD: In a major relief package for the inflation-weary public, the federal government has announced a massive, unprecedented reduction in the prices of petroleum products across the country.
According to official sources, the price of petrol has been slashed by Rs. 74 per liter, while high-speed diesel (HSD) has been reduced by Rs. 67 per liter.
Following the government’s official notification, the new price of petrol now stands at Rs. 299 per liter, and diesel has dropped to Rs. 311 per liter.
This sweeping price cut comes on the heels of a statement by Prime Minister Shehbaz Sharif, who had promised to pass on the economic benefits of the historic US-Iran peace accord to the masses by significantly lowering domestic fuel costs.
Prime Minister Shehbaz Sharif extended his heartfelt gratitude to the people of Pakistan, deeply appreciating the exemplary patience and steadfast support they demonstrated throughout the recent economic hardships.
He noted that from the very beginning of the global crisis, the government prioritized protecting the public from the severe wave of international inflation.
By implementing strict austerity measures and reallocating Rs. 129 billion from the federal development budget, the administration successfully cushioned the masses against skyrocketing fuel prices and provided targeted subsidies to vulnerable communities.
Reflecting on the management of the energy sector, the Prime Minister highlighted that while several regional economies were forced to resort to fuel rationing, Pakistan completely averted an energy crisis through strategic planning.
As a result, citizens did not have to face supply shortages or long queues at fuel stations. He emphasized that the government is now transparently and directly passing the full benefit of falling international oil prices to the public, reaffirming that maximizing relief and driving down inflation remain the state’s top priorities.
On the diplomatic front, the Prime Minister credited a historic breakthrough to Pakistan’s successful mediation in defusing the highly tense situation in the Middle East.
This diplomatic triumph culminated in the signing of the historic Islamabad Memorandum of Understanding, an achievement that brings immense honor to all Pakistanis.
The Prime Minister thanked the provincial Chief Ministers for their seamless cooperation with the federation, which was critical to maintaining overall economic stability.
In closing, the Prime Minister paid tribute to the key leadership figures whose tireless dedication made these achievements possible.
He offered special congratulations to Field Marshal Syed Asim Munir for his exceptional dedication and professional acumen in facilitating the peace accord.
He also commended Deputy Prime Minister and Foreign Minister Senator Ishaq Dar, Interior Minister Syed Mohsin Raza Naqvi, and the entire diplomatic team for their sincere efforts.
Furthermore, he praised the economic team—including Finance Minister Muhammad Aurangzeb, Planning Minister Ahsan Iqbal, Economic Affairs Minister Ahad Khan Cheema, Petroleum Minister Ali Pervaiz Malik, the Secretaries of Finance and Petroleum, and the Chairman of the FBR—for their commendable work in navigating the country through severe financial headwinds.
