Shehbaz Sharif Freezes Petrol Prices Despite Global Oil Surge

In Islamabad, Prime Minister Shehbaz Sharif has announced that the prices of petroleum products will not be increased, despite rising oil prices in the global market. In an official statement, the Prime Minister explained that the decision was made to alleviate the burden on the common man, reaffirming his commitment to providing as much relief as possible during these difficult circumstances.

He noted that the global economy is currently under significant pressure due to regional tensions, which poses a risk of profound impact on Pakistan’s economy. Efforts are underway to manage the situation through timely policymaking and fiscal discipline. The Prime Minister vowed to prioritize cuts within the government and among the elite to protect the poor, noting that it is gratifying to see provincial governments supporting these federal austerity measures.

Through the efforts of the diplomatic and economic teams, the country currently maintains adequate quantities of crude oil to meet national needs. The Prime Minister added that both federal and provincial authorities are working to prevent overcharging while expressing hope for improved global stability and price normalization.

According to sources, although global price hikes led to proposals to increase petrol by Rs. 50 and diesel by Rs. 75, the Prime Minister intervened to prevent these costs from being passed on to consumers. Sources further confirmed that the Prime Minister directed the government to bear the burden of the price increases internally.