By In a significant move to ease the financial burden on citizens, Prime Minister Shehbaz Sharif has announced a reduction of Rs80 per litre in petrol prices. The new rate has been set at Rs378 per litre and will remain effective for one month.
The announcement came during a national address from Islamabad , where the premier highlighted the growing economic challenges driven by rising global oil prices.
Relief Amid Global Economic Pressure
The prime minister acknowledged that Pakistan is facing severe economic pressure due to surging international fuel prices and global inflation. He noted that even the world’s strongest economies are struggling, and Pakistan is no exception.
To provide immediate relief, the government reduced the petroleum levy by Rs80 per litre, which directly contributed to the drop in petrol prices. This step is part of a broader strategy to shield consumers from the full impact of escalating energy costs.
Rs129 Billion Subsidy to Support Citizens
Over the past three weeks, the government has allocated approximately Rs129 billion in subsidies. According to the prime minister, these funds were used to prevent a massive increase in fuel prices from being passed on to the public.
He described the situation as an “economic storm,” emphasizing the urgency of intervention to support households dealing with rising expenses.
Additional Subsidies for Motorcyclists and Transport Sector
Alongside the petrol price reduction, the government has introduced targeted subsidies:
- Motorcyclists: Rs100 per litre subsidy for low-income commuters
- Public Transport Buses: Monthly subsidy of Rs100,000
- Freight & Commercial Vehicles: Financial support to reduce operational costs
These measures are particularly aimed at stabilizing transportation fares and reducing the overall cost of living.
No Increase in Train Fares
In a further relief measure, the government confirmed that economy-class fares for rail travel will not be increased. This decision ensures affordability for millions of commuters who rely on trains for daily and long-distance travel.
Consultations and Policy Coordination
The decision followed extensive consultations involving key leadership figures, including Ishaq Dar, along with the president and chief ministers of all four provinces. Meetings were held at both the Presidency and the Prime Minister’s Office to finalize a coordinated response.
Global Factors Still a Concern
The prime minister also pointed to ongoing international conflicts contributing to volatility in global oil markets. He expressed hope for improved global stability, which could help ease fuel prices in the future.
The Rs80 reduction in petrol prices offers much-needed relief to Pakistani citizens amid rising inflation. While the move provides short-term comfort, future fuel pricing will continue to depend on global oil trends and economic conditions.
The government’s combination of subsidies and price cuts reflects an effort to balance limited national resources while supporting the public during challenging times.
