Prime Minister Shehbaz Sharif has announced an immediate reduction of Rs80 per litre in the petroleum levy, bringing petrol prices down to Rs378 per litre across Pakistan.
The decision comes shortly after a sharp increase in fuel prices caused by global oil shocks triggered by escalating tensions in the Gulf region. The announcement was made in a televised address to the nation from Islamabad.
According to official reports, the government had earlier increased petrol prices by 43% and diesel prices by 55% due to rising international crude oil costs. However, in response to public concern, the government has now introduced partial relief measures.
The prime minister said the price hike was unavoidable due to global market conditions but stressed that the government had tried to shield citizens from inflation for as long as possible.
He also announced a series of relief initiatives, including subsidies for motorcycle users, financial support for transporters and small farmers, and a decision to freeze Pakistan Railways economy class fares.
Additionally, the federal cabinet has decided to forgo salaries for six months as part of austerity measures aimed at supporting the national relief package.
The government stated that the relief measures would be implemented nationwide and extended to regions including Gilgit-Baltistan and Azad Jammu and Kashmir.
Officials said the move is part of a broader effort to stabilize the economy while addressing the burden of inflation on ordinary citizens, particularly in the transport and agriculture sectors.
The announcement reflects ongoing efforts by the government to balance global economic pressures with domestic relief measures during a period of rising energy costs.
