ISLAMABAD – In a significant announcement delivered during his Eid‑al‑Fitr address to the nation on Friday, Prime Minister Shahbaz Sharif firmly declined a government proposal to impose a drastic increase in petrol and diesel prices. The premier emphasized that such a move would have placed an unbearable financial strain on ordinary Pakistani families, especially during the festive season.
Sharif revealed that he had been advised to raise petrol prices by Rs76 per litre and diesel prices by an even steeper Rs177 per litre. However, taking into account the approaching Eid celebrations and the government’s responsibility towards the welfare of its citizens, he chose to reject the recommendation. Instead, he announced that the federal government would absorb the additional cost burden amounting to Rs45 billion for the current week, shielding consumers from immediate price shocks.
Highlighting the volatile international oil market, the Prime Minister pointed out that global crude oil prices had surged dramatically, climbing from $72 to $158 per barrel within a mere three weeks. This sharp escalation had already forced the government to increase fuel prices by Rs55 per litre earlier, a move that had severely impacted household budgets across the country. Many families were struggling to cope with the rising costs of essential goods and transportation, making any further hikes untenable at this critical time.
Expressing gratitude towards the public, Sharif acknowledged the resilience and patience demonstrated by the people of Pakistan amid these economic challenges. He stressed that the government was fully aware of the hardships faced by the common citizen and was committed to minimizing their burden wherever possible. Earlier in March, the government had already absorbed a Rs24 billion subsidy following price adjustments on March 13, underscoring its ongoing efforts to stabilize the market.
In his address, the Prime Minister also extended heartfelt Eid greetings to the nation, urging all Pakistanis to embrace a spirit of unity and collective responsibility during the festive period. He reminded citizens that Eid is not only a time for celebration but also a moment to reinforce social solidarity and support for one another, especially in difficult times.
Despite the continued upward pressure on global oil prices, Sharif reassured the public that the government remained steadfast in its commitment to protect consumers from excessive inflation in fuel costs. He noted that as of Friday, international oil prices had once again surged sharply, but the administration was determined to manage the economic impact and prevent further hardship for the people.
This decision to reject the proposed fuel price hike reflects the government’s balancing act between fiscal pressures and social welfare considerations, particularly during a period marked by economic uncertainty and festive demands. The Prime Minister’s stance signals a prioritization of public interest and economic stability as Pakistan navigates these challenging times.
