ISLAMABAD: Prime Minister Shehbaz Sharif has announced an immediate cut in petrol prices by 80 rupees, bringing the price down to 378 rupees per liter a day after the rates were exorbitantly hiked.
The reduction in petrol prices took effect tonight at 12. The government has also reduced the levy on petrol by 80 rupees per liter.
The announcement by the prime minister was made in a televised address. This included financial support for transport and farmers. Small trucks will receive a monthly subsidy of 70,000 rupees, large trucks 80,000 rupees, and public transport 100,000 rupees.
Goods carriers will get a subsidy of 100 rupees per liter, and small farmers will receive 1,500 rupees per acre. Pakistan Railways will not increase economy-class fares. The Prime Minister thanked provincial leaders for providing resources to support this national relief effort.
Mr Sharif said global oil prices are rising sharply, causing financial challenges worldwide. Pakistan has announced a total of 129 billion rupees in subsidies to date to help citizens cope with fuel costs. He also expressed hopes for peace in the region.
He said this move was aimed at giving immediate relief to the public, supporting transport and farmers, and keeping costs manageable for ordinary citizens.
