PM Shehbaz says petroleum prices to remain unchanged despite increase in int’l market

Prime Minister Shehbaz Sharif has decided not to increase the prices of petroleum products this time, honouring his promise to the public despite a further rise in international oil prices.

According to a statement from the Prime Minister’s Office, the decision aims to reduce the burden on the common man. It added that the government remains committed to providing as much relief as possible to the people during these challenging times.

Highlighting the global economic situation in the statement, PM Shehbaz noted that tensions in the region are putting pressure on the world economy, which could have significant effects on Pakistan’s economic stability. He said the government is addressing the situation through timely policy decisions, savings measures, and financial discipline.

“As a servant of Pakistan, I am resolved to start reducing the burden on the poor by beginning with the country’s elite and the government itself during these difficult times,” he stated.

He added that alongside federal austerity measures, provincial governments are fully supporting these efforts, which he called a welcome development. He further stated that, by the grace of Allah Almighty and the efforts of Pakistan’s diplomatic and economic teams, sufficient quantities of crude oil are available to meet the country’s requirements.

The prime minister assured that both federal and provincial governments are jointly ensuring that no one charges more than the prices fixed by the government. He expressed hope that global conditions will improve and that petroleum product prices will stabilise in the international market.