Prime Minister Shehbaz Sharif declared on Friday that petrol prices would be set at Rs378 per litre for the next month following the government’s decision to reduce the petroleum levy by Rs80. This step is part of a broader strategy aimed at protecting the public from the recent global oil price shock caused by ongoing conflict.
Addressing the nation, the prime minister highlighted the difficult situation Pakistan faces due to soaring international oil prices, which have intensified challenges for ordinary citizens, farmers, and transporters alike. He emphasized that the global fuel price surge has significantly increased the financial strain on households already burdened by inflation.
Shehbaz Sharif noted that the government has allocated Rs129 billion over the past three weeks to provide relief to the public, despite limited national resources complicating these efforts. The recent measures are designed to ensure that the full impact of rising prices does not fall solely on the people.
In a significant development, the reduction in the petroleum levy will be effective for one month to mitigate the sharp increase in petroleum product prices. The government conducted extensive consultations following announcements made earlier by the finance and petroleum ministers.
As part of the relief package, the prime minister announced a subsidy of Rs100 per litre for motorcyclists. Additionally, goods transport vehicles will receive the same Rs100 per litre subsidy to help control freight costs and curb further inflationary pressure on essential commodities.
For public transport, the government will provide a monthly subsidy of Rs100,000. Shehbaz Sharif also confirmed that railway economy class fares will remain unchanged despite rising fuel costs, a decision aimed at protecting lower-income passengers.
Recognizing the severe difficulties faced by the agricultural sector due to increased fuel prices, the prime minister announced a subsidy of Rs1,500 for farmers, who are among the hardest hit and require immediate assistance to sustain their work.
Shehbaz Sharif poignantly remarked that many poor families have been forced to endure cold kitchens as inflation and fuel costs continue to escalate. He pointed out that even strong global economies have been weakened by inflation, while in Pakistan, the crisis has deepened hardships for the common people.
Despite the global oil price surge triggered by war, the government has successfully averted fuel shortages and panic buying. “In other countries, people queued for petrol, but we prevented that here,” he stated.
The prime minister reaffirmed the government’s commitment to alleviating the public’s suffering and preventing the international price shocks from escalating into a more severe domestic crisis.
In an appeal for peace and domestic austerity, Shehbaz Sharif expressed Pakistan’s desire for a swift end to the war and pledged continued efforts toward peace. He acknowledged the tireless work of Deputy Prime Minister Ishaq Dar and Field Marshal Asim Munir in striving for stability.
He also extended gratitude to Khyber-Pakhtunkhwa Chief Minister Ali Amin Gandapur for his cooperation during these challenging times.
In a separate austerity measure, the prime minister announced that cabinet members will forego their salaries for six months, emphasizing that leadership must share the burden during this period of national difficulty.
