PM Shehbaz Sharif Announces Massive Fuel Price Cut, Petrol Reduced by Rs74 Per Litre

ISLAMABAD: Prime Minister Shehbaz Sharif has announced a significant reduction in the prices of petrol and diesel, announcing a major relief for the people across the country. According to the Prime Minister, the government has decided to reduce the price of petrol by Rs 74 and the price of diesel by Rs 67 per litre, fulfilling the promise made to the people.

According to the Prime Minister’s announcement, the price of petrol per litre will be reduced from Rs 373 to Rs 299, while the price of diesel will be reduced from Rs 378 to Rs 311 per litre. The government says that the full benefit of the reduction in crude oil prices in the global market is being passed on to the people.

In his statement, Shehbaz Sharif said that the government is fully aware of the economic difficulties faced by the people. He said that the Pakistani people showed patience and forbearance during the difficult economic situation, for which the government is grateful. The Prime Minister emphasised that during the crisis, the government tried to reduce oil prices as much as possible using its available resources.

The Prime Minister said that the government used resources worth Rs 129 billion through austerity policies and savings in development expenditure to protect the people from inflation and rising energy costs. He said that subsidy programmes were also continued for the low-income groups to provide them relief.

Referring to the recent tensions in the Middle East, Shehbaz Sharif said that Pakistan’s diplomatic efforts and mediation had paved the way for peace in the region. He appreciated the services of Field Marshal Asim Munir, Deputy Prime Minister Ishaq Dar, Interior Minister Mohsin Naqvi and the government team in this process.

According to the Prime Minister, due to the effective strategy of the government, there was no energy crisis, nor did there have to be a shortage of petroleum products. He also termed the cooperation of the federal and provincial governments important for the stability of the country’s economy.

According to experts, this significant reduction in fuel prices will not only reduce transport costs but can also have a positive impact on the overall inflation rate.