Govt keeps petroleum prices unchanged, PM announces relief

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday announced that the government would keep petroleum product prices unchanged, rejecting a proposal to increase fuel rates and opting instead to provide relief to the public.

In a televised address, the prime minister said a summary had recommended raising petrol prices to Rs95 per litre and diesel to Rs203 per litre. However, he said the government decided not to pass on the additional burden to citizens.

He added that the federal government would absorb an estimated Rs56 billion in costs to maintain current fuel prices.

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Sharif said Pakistan was actively engaged on multiple fronts and emphasised that the government remained committed to easing economic pressure on the public. He noted that efforts were under way to promote peace in the region, describing them as being in the broader interest of the Muslim world.

He highlighted the role of Deputy Prime Minister Ishaq Dar in diplomatic efforts aimed at reconciliation, while also acknowledging the contribution of Field Marshal Syed Asim Munir in addressing current challenges.

The prime minister said global conditions remained difficult, with fuel prices rising sharply worldwide and major economies facing economic strain.

He said the government was fully aware of public concerns regarding inflation and had taken timely measures to mitigate its impact.

Sharif also urged citizens to support austerity measures, stating that savings were being redirected to provide maximum relief to the common people.