ISLAMABAD – Prime Minister Shahbaz Sharif hailed ceasefire between US and Iran as historic achievement for Pakistan. He described the development as “very historic day” for the country and expressed gratitude to Allah SWT for the success.
The premier stressed that the positive impact of Pakistan’s diplomatic efforts will be felt by inflation-wary people, as the recent reduction in global oil prices will be passed on to consumers gradually. He added that the cabinet will hold a meeting to discuss further measures to benefit the people.
This milestone follows Pakistan’s brokered ceasefire agreement between US and Iran. The ceasefire has already contributed to record drop in oil prices in the global market, reflecting the tangible impact of Pakistan’s mediation.
Earlier, PM announced massive relief package to ease the public’s burden after fuel prices hit record highs. Petrol prices, which had soared to Rs458 per litre amid escalating global tensions, was cut by Rs80, bringing the cost down to Rs378 per litre.
All federal cabinet members decided not to receive their salaries for the next six months as part of sweeping austerity measures. The announcement comes after last week’s petrol price hike.
PM also blamed steep increase on ongoing US-Israel conflict with Iran and assured that prices would return to pre-war levels once tensions subside. To manage rising transport and freight costs, the government had previously hiked the petrol petroleum levy to Rs160 per litre while reducing it to zero for diesel.
Targeted relief measures were also unveiled to shield citizens from the global oil shock. Train fares and road taxes will remain unchanged, and free public bus services will operate in Islamabad, Punjab, and Sindh.
