On Friday, Pakistan’s Prime Minister Shahbaz Sharif extended warm Eid-ul-Fitr greetings to the nation, while simultaneously delivering reassuring news regarding fuel prices. In a statement addressing the public, he announced that the prices of petrol and diesel would remain steady, dismissing a proposal to raise them despite an unprecedented surge in global oil rates. This decision comes at a time when the world is grappling with volatile energy markets, putting immense pressure on economies and consumers alike.
Elaborating on the global context, the prime minister highlighted that crude oil prices have skyrocketed to $158 per barrel, a dramatic increase from just $72 per barrel a mere three weeks ago. Such a steep rise has had far-reaching consequences, directly impacting households across the globe by inflating the cost of living. He emphasized that this rapid escalation in energy costs has ignited a fresh wave of inflation, which is severely straining the daily lives of ordinary citizens, including those in Pakistan.
Reflecting on recent developments within the country, Shahbaz Sharif reminded the public that fuel prices had already been increased by 55 rupees per litre in early March. This earlier adjustment had already placed a significant financial burden on families, affecting household budgets and contributing to economic challenges faced by many. Acknowledging the difficulties endured by the population, the prime minister expressed his heartfelt gratitude for their patience and resilience during these trying times.
Further addressing the issue, Shahbaz Sharif disclosed that government advisors had proposed additional hikes—specifically, an increase of 50 rupees per litre for petrol and 74 rupees per litre for diesel. However, after careful consideration, he chose to reject these recommendations, citing the severe hardship such increases would impose on everyday Pakistanis. His decision underscores a commitment to shielding the public from further economic distress amidst an already challenging environment.
In his closing remarks, the prime minister called upon the nation to foster a spirit of unity, compassion, and mutual support as they navigate these turbulent times. He pointed out that ongoing regional conflicts have not only destabilized the global economy but have also disrupted normal life in Pakistan and neighboring countries. By urging citizens to stand together, Shahbaz Sharif highlighted the importance of collective strength in overcoming external pressures and safeguarding national stability.
