PM Shehbaz announces Rs 80 reduction in petrol prices

ISLAMABAD: Prime Minister Shehbaz Sharif has announced reduction of Rs 80 per litre in the petrol prices across country.

The new petrol price in Pakistan will be Rs 378 per litre.

Addressing the nation, Prime Minister Shehbaz Sharif said that oil prices are skyrocketing across the region, new channels are emerging for the common man.

The Prime Minister said that national resources are limited, today oil prices have increased sharply in global markets, inflation has broken the backs of the world’s powerful economies.

The Prime Minister said that he knows how the common man lives in Pakistan.

The Prime Minister said that it is a prayer that the Finance Minister and the Petroleum Minister made announcements regarding the national consultation yesterday.

There was a thorough consultation before these announcements. The President invited the entire national leadership to the President’s House.

The four Chief Ministers, the Prime Minister of Azad Kashmir and the Field Marshal were also present in the President’s House.

He said that the war in the region should end as soon as possible and peace should be established. Small trucks will be given a subsidy of 70 thousand and big trucks will be given 80 thousand and public transport will be given one lakh rupees per month.

The Prime Minister said that a subsidy of 100 rupees per liter will be given to support freight vehicles, and small farmers will be provided with assistance of 1500 rupees per acre. Economy class fares in the railways will not be increased.

The Prime Minister said that he would like to thank the provincial Chief Ministers who have committed to providing their resources for this national cause without delay.

The Prime Minister announced that he would reduce the price of petrol by Rs 80 per liter.

It should be noted that so far the Prime Minister has announced a subsidy of Rs 129 billion on petrol prices.