ISLAMABAD: Prime Minister Shehbaz Sharif said on Friday that Pakistan will announce a significant reduction in petroleum prices as global oil rates decline following a ceasefire.
He said oil prices had fallen sharply after tensions eased. He noted that prices had surged during the conflict, pushing inflation higher and increasing pressure on the public.
Shehbaz Sharif said the government had taken steps to shield citizens from inflationary shocks. He expressed hope that oil prices would continue to fall in the coming days.
He said the government would announce weekly petroleum prices later in the day. He indicated that a “substantial” cut in fuel prices was expected.
The prime minister said lower oil prices would help ease inflationary pressure and provide relief to households.
He added that “progress and prosperity” were within reach after a period of economic difficulty.
Shehbaz Sharif also pointed to Pakistan’s diplomatic engagement and regional peace efforts. He said these developments, along with expected economic relief, had created a sense of national confidence and unity.
