by furqanMajor Relief: PM Shehbaz Sharif Slashes Petrol Price to Rs378 Amid Global Crisis
ISLAMABAD – In a significant move to shield the public from the ongoing Middle East fuel crisis, Prime Minister Shehbaz Sharif on Friday announced a substantial reduction in petrol prices, fixing the new rate at Rs378 per litre for the next month.
The Prime Minister also announced a massive cut in the petroleum levy, slashing it by Rs80 per litre. The new pricing structure is set to take effect starting 12:00 AM on Saturday.
Key Highlights of the Relief Package:
- New Petrol Rate: Rs378 per litre.
- Levy Reduction: Rs80 per litre decrease in petroleum levy.
- Sector Support: Targeted subsidies for transporters and financial aid for small-scale farmers.
Addressing the Nation
The announcement came during a televised address, just a day after the government had initially signaled a sharp hike—Rs137.23 for petrol and Rs184.49 for High-Speed Diesel (HSD).
The Prime Minister noted that the decision followed high-level consultations at the President’s House, attended by the four provincial Chief Ministers, the PM of Azad Kashmir, and Field Marshal Asim Munir.
“Oil prices have skyrocketed across the entire region, breaking the backs of even the world’s most powerful economies,” PM Shehbaz stated. “We are addressing the nation at a challenging time with an ongoing war in the Middle East, but our priority remains providing relief to the common man.”
The Prime Minister concluded his address by expressing hope for an immediate end to regional hostilities and the establishment of lasting peace.