Prime Minister Shehbaz Sharif announced a reduction in fuel prices, cutting petrol by Rs12 per litre and high-speed diesel by Rs135 per litre.
The announcement came during a late-night address to the nation, where the prime minister spoke about both economic relief and important diplomatic developments. He described the moment as historic, saying the Middle East was moving away from war and towards peace.
According to the prime minister, countries that were recently involved in intense conflict are now willing to resolve their differences through dialogue. He thanked the leadership of both Iran and the United States for accepting Pakistan’s invitation to hold talks in Islamabad.
The prime minister said the two countries had agreed to a temporary ceasefire and would soon begin negotiations aimed at achieving lasting peace. He also appreciated the efforts of Field Marshal Asim Munir and Deputy Prime Minister and Foreign Minister Ishaq Dar.
The prime minister said their diplomatic work played a key role in helping reduce tensions and encouraging both sides to sit at the negotiating table. “In this regard, Field Marshal Asim Munir’s services will be remembered in history in golden words,” he said.
PM Shehbaz added that although a temporary ceasefire had been achieved, the real challenge now was to secure a permanent agreement. He described the upcoming negotiations as a “make or break” moment for regional peace.
The prime minister urged the public to pray for the success of the talks, saying a peaceful resolution could save thousands of innocent lives and reduce global tensions. He confirmed that leaders from both countries would be present in Islamabad and Pakistan would make sincere efforts to ensure productive dialogue.
Meanwhile, the prime minister also explained the recent fluctuations in fuel prices.
Last month, the government had increased petroleum prices by Rs55 per litre due to rising global oil prices during the US Iran conflict.
For the following three weeks, officials said the government avoided further increases and instead absorbed financial pressure through a subsidy of Rs129,000,000,000.
However, on April 2, petrol prices were raised sharply by Rs137 per litre, pushing the price to Rs458.4. The price of high-speed diesel also rose to Rs520.35 per litre after an increase of Rs185.
Soon after that hike, the government reduced the petroleum levy on petrol by Rs80 per litre, bringing the petrol price down to Rs378 per litre. The latest price cuts are expected to provide some relief to the public and businesses facing rising transportation costs.
