ISLAMABAD: The federal government on Friday announced a major reduction in petroleum prices, reducing the prices of both petrol and high-speed diesel by Rs 22 per litre, aimed at providing relief to the public amid ongoing economic challenges.
According to an official statement issued by the Prime Minister’s Office, the decision has been taken in line with Prime Minister Shehbaz Sharif’s commitment to transfer economic relief to the public whenever fiscal space is available.
The statement said that the prime minister has assured the nation that the government will pass on the benefits of improving economic conditions directly to the consumers, adding that the latest reduction reflects the practical implementation of this promise.
Prime Minister Shehbaz Sharif said that public relief is among the top priorities of the federal government. He noted that the government had already reduced fuel prices during the previous review and was continuing its efforts to reduce the financial burden on citizens.
The Prime Minister stressed that despite the difficult economic conditions and volatility in the international market, the government maintained a solid relief strategy for the people. He highlighted the measures introduced specifically for the public and goods transport sectors, as well as subsidies to support motorcycle and rickshaw users.
The Prime Minister’s Office added that during periods when many regional countries faced fuel shortages and long queues at petrol stations, Pakistan ensured uninterrupted availability of fuel due to timely administrative decisions and coordinated policy measures.
According to the statement, the government also absorbed a large part of the impact of the increase in international oil prices during the global energy crisis. Officials noted that a subsidy of more than Rs 130 per litre was earlier provided to protect consumers from the sharp increase in petroleum prices.
Officials described the latest reduction in fuel prices as part of broader economic stabilisation efforts designed to reduce inflationary pressures, improve transport affordability, and support business activity across the country.
Economic analysts believe that the reduction in petroleum prices could contribute to lower transportation costs and a gradual easing of prices of essential commodities, especially in urban markets where fuel costs significantly affect the supply chain.
The government reiterated its commitment to maintaining economic stability while continuing to provide targeted relief measures to citizens affected by inflation and rising costs.
