Prime Minister Shehbaz Sharif on Friday announced a significant reduction in fuel costs, bringing notable relief to the public amid ongoing economic pressure. The petrol price has been reduced by Rs12 per litre, while diesel has seen a major cut of Rs135 per litre, following a decline in international oil prices.
In a televised address, the prime minister confirmed that the new petrol price will be Rs366 per litre, while diesel will now be available at Rs385 per litre. These revised rates will come into effect from April 11, offering immediate financial relief to consumers across the country.
Highlighting the government’s intent, Shehbaz Sharif said that after a prolonged period of inflation, it was both his moral and political duty to pass on the benefit of falling global oil prices to the public. He emphasized that citizens who have faced rising costs of living deserve meaningful relief, especially in essential commodities like fuel.
The announcement comes at a crucial time, as Pakistan is set to host important US-Iran peace talks in Islamabad, adding geopolitical significance to the moment. Despite these developments, the government remains focused on stabilizing the domestic economy and easing the burden on the common man.
Reiterating the impact of global market trends, the prime minister noted that the sharp drop in diesel rates and the reduction in petrol price were directly linked to the easing of international oil prices. He confirmed that the reductions would take effect from midnight, ensuring prompt implementation.
Furthermore, Shehbaz Sharif stated that, in collaboration with provincial governments, the previously announced subsidy will continue across all four provinces, as well as in Gilgit-Baltistan and Azad Kashmir, ensuring broader financial support nationwide.
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