Islamabad, Pakistan – Web Desk: Pakistan’s Prime Minister Shehbaz Sharif has announced an immediate reduction of Rs80 per litre in petrol prices, bringing the new rate down to Rs378 per litre from Rs458.
Addressing the nation, the prime minister said the price cut would take effect from midnight and remain applicable nationwide for the next month. He also confirmed an equivalent reduction in the petroleum levy.
The move comes amid rising global oil prices and increasing inflationary pressures. Sharif acknowledged the economic challenges faced by ordinary citizens and said the government aims to provide immediate relief.
In addition to the price cut, the government announced a series of subsidy measures. Motorcyclists will receive Rs100 per litre support, while goods transport vehicles will also benefit from a Rs100 per litre subsidy for one month. Small trucks will receive Rs70,000, large trucks Rs80,000, and public buses Rs100,000 per month in financial assistance.
The prime minister further announced Rs1,500 per acre support for small farmers and confirmed that rail fares for economy class passengers would not be increased.
Separately, cabinet members have pledged to deposit six months’ salaries into the national treasury as part of broader austerity measures.
The announcement follows a recent sharp increase in fuel prices, highlighting the government’s attempt to balance economic pressures with public relief.
