ISLAMABAD: Prime Minister Shehbaz Sharif has announced a significant reduction in petroleum prices, lowering petrol by Rs74 per litre and diesel by Rs67 per litre.
In a statement posted on his official X (formerly Twitter) account, the prime minister said the new price of petrol has been set at Rs299 per litre, while diesel will now cost Rs311 per litre.
He said the relief was made possible due to improving regional economic conditions and that the government was immediately passing on the benefits of reduced global oil prices to the public.
The prime minister acknowledged the hardships faced by citizens, saying the government remained fully aware of public difficulties during recent economic challenges. He added that the administration had worked to mitigate fuel price pressures by using Rs129 billion through development budget adjustments and austerity measures.
He noted that Pakistan avoided fuel shortages and rationing seen in some other countries due to better planning and coordination, stating that there were no long queues or disruptions in petroleum supply.
Ishaq Dar and Mohsin Raza Naqvi were also acknowledged for their roles in maintaining economic stability and supporting relief efforts.
Highlighting regional diplomacy, the prime minister said Pakistan played a constructive role in easing tensions in the Middle East, referring to what he called the successful “Islamabad Memorandum of Understanding.” He said the development reflected Pakistan’s diplomatic engagement and international standing.
He also praised the efforts of Asim Munir, crediting his professional leadership in supporting peace-related initiatives.
The prime minister reiterated that providing relief to the public and maintaining economic stability remain top government priorities, adding that further measures to reduce inflation will continue in the coming months.
