Prime Minister Slashes Petrol Price by Rs74 and Diesel by Rs67 in Major Relief Package

The federal government has decided to significantly reduce fuel prices, with petrol set to become cheaper by Rs74 per litre and diesel by Rs67 per litre. The move is expected to provide major relief to millions of people facing rising living costs. Prime Minister Shehbaz Sharif said the government is passing on the full benefit of falling international oil prices to the public. He stated that improving economic conditions in the region and lower global oil prices have created an opportunity to reduce fuel prices.

According to the prime minister, petrol will drop from Rs373 per litre to Rs299, while diesel will decrease from Rs378 per litre to Rs311. He said the government had promised relief to the nation and is now fulfilling that commitment.

Shehbaz Sharif said the government understands the difficulties faced by the public and appreciated people for showing patience during challenging economic conditions. He thanked citizens for supporting the government throughout the crisis. The prime minister revealed that the federal government used Rs129 billion from development savings and austerity measures to shield consumers from a much larger increase in fuel prices during the crisis.

He said Pakistan successfully avoided an energy crisis despite regional challenges. Unlike some countries that introduced fuel rationing, Pakistan maintained uninterrupted supplies through effective planning and timely decisions. He noted that there were no long queues, shortages, or major disruptions in the supply of petroleum products across the country.

Shehbaz Sharif also praised provincial governments for their cooperation in maintaining economic stability and protecting citizens from the impact of global inflation. The prime minister said any future reduction in international oil prices would also be passed on directly to the public. He added that the government would continue taking measures to maintain economic stability and further reduce inflation.

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He stated that during the crisis, the government not only adopted austerity measures but also provided subsidies to vulnerable groups. He stressed that delivering maximum relief to the people remains the government’s top priority. The prime minister further said Pakistan’s mediation efforts helped ease tensions in the Middle East and contributed to a peace agreement. He described the Islamabad Memorandum as a historic achievement that enhanced Pakistan’s international standing.

Shehbaz Sharif congratulated the nation on what he called a major diplomatic success and praised Field Marshal Syed Asim Munir for his efforts in helping secure the peace agreement. He also acknowledged the contributions of Deputy Prime Minister and Foreign Minister Ishaq Dar, Interior Minister Mohsin Naqvi, and other members of the government team involved in the peace efforts.

The prime minister appreciated the economic team, including Finance Minister Muhammad Aurangzeb, Planning Minister Ahsan Iqbal, Economic Affairs Minister Ahad Khan Cheema, Petroleum Minister Ali Pervaiz Malik, and other senior officials for their role in addressing the country’s economic challenges.