PM Shehbaz Sharif announces no increase in petrol prices

ISLAMABAD: Prime Minister of Pakistan Shehbaz Sharif has said the government has once again rejected a summary for fuel price increase and will absorb the burden of Rs56 billion itself.

Prime Minister Shahbaz Sharif said that he is active day and night on the diplomatic front to establish peace, Pakistan is working very successfully on two fronts.

PM said that we are trying to save the region and friendly countries from a devastating war.

He said that I have had detailed discussions with the heads of Iran and the Gulf countries several times, Pakistan’s diplomatic efforts are not just an international effort but a religious duty.

The Prime Minister said that Ishaq Dar is working with full dedication and sincerity, while Field Marshal is playing a key role in this process.

The Prime Minister said that I was given a proposal to increase petrol by Rs 95 and diesel by Rs 203, which I have rejected and the federal government has decided to shoulder the burden of another Rs 56 billion this week.

The Prime Minister said that on today’s date, petrol should have been Rs 544 per liter, which the government is providing to you at Rs 322, while the price of diesel per liter should have been Rs 790, which the government is providing to you at Rs 335.

Earlier this month, the government sharply increased diesel and petrol prices by Rs55 per litre, or 20 per cent, citing the ongoing US-Israel and Iran conflict, which has disrupted global supply chains and pushed crude oil prices to a two-year high.

In response to the crisis, both federal and provincial governments have introduced a series of austerity measures. These include an additional weekly holiday, a reduction in free petrol allocations for ministers, curbs on protocol vehicles, and proposals to provide subsidised fuel for students.