Govt cut petrol price by Rs74, diesel by Rs67 per litre

The government on Friday announced a major reduction in fuel prices, providing significant relief to the public.

Under the new prices, petrol has been reduced by Rs74 per litre, bringing the rate down from Rs373 to Rs299 per litre. Diesel prices have also been cut by Rs67 per litre, lowering the price from Rs378 to Rs311 per litre. The new rates came into effect from Friday night.

Prime Minister Shehbaz Sharif said the government decided to pass on the benefits of falling global oil prices to the public following improved regional economic conditions and Pakistan’s efforts to promote peace.

He said the reduction in fuel prices fulfills a promise made to the nation and reflects the government’s commitment to providing relief to citizens.

The prime minister acknowledged the difficulties faced by the public during challenging economic conditions and thanked people for their patience. He said the government used all available resources to reduce fuel prices as much as possible during the crisis.

According to PM Shehbaz, Rs129 billion was arranged through spending cuts and adjustments in the development budget to provide relief and support the economy.

He also said Pakistan successfully avoided fuel shortages and rationing during the crisis due to effective planning and policy decisions. Unlike some countries, there were no long queues at petrol stations or disruptions in fuel supplies.

The prime minister thanked the provincial governments and chief ministers for their cooperation in maintaining stable fuel supplies across the country.

He added that the government will continue efforts to control inflation, strengthen economic stability, and provide maximum relief to the public.

Referring to recent regional developments, PM Shehbaz said Pakistan’s diplomatic efforts helped promote peace in the Middle East and contributed to a historic agreement signed in Islamabad.

He also thanked Field Marshal Asim Munir, Deputy Prime Minister Ishaq Dar, Interior Minister Mohsin Naqvi, and members of the economic team for their contributions to the country’s diplomatic and economic achievements.