ISLAMABAD – Prime Minister Shehbaz Sharif, in a key address to the nation, announced a reduction of Rs80 in petrol prices, bringing the new rate down to Rs378 per litre.
Addressing the nation, the prime minister said oil prices are soaring across the region, creating new challenges for the common man. He noted that national resources are limited and global oil prices have surged sharply, with inflation impacting even the world’s strongest economies.
He added that he is fully aware of the hardships faced by ordinary citizens in Pakistan.
The prime minister said that recent announcements by the finance and petroleum ministers were made after extensive consultations. He revealed that the president had convened a meeting at the Presidency attended by national leadership, including all four chief ministers, the prime minister of Azad Kashmir, and the field marshal.
Expressing hope for peace in the region, he announced monthly subsidies: Rs70,000 for small trucks, Rs80,000 for large trucks, and Rs100,000 for public transport.
He further stated that freight vehicles would receive a subsidy of Rs100 per litre, while small farmers would be given Rs1,500 per acre in assistance. He also assured that economy class train fares would not be increased.
The prime minister thanked provincial chief ministers for committing their resources to this national cause.
It is noteworthy that the prime minister has so far announced subsidies worth Rs129 billion related to petroleum prices.
