PM Shehbaz announces major reduction in petrol prices
ISLAMABAD: Prime Minister Shehbaz Sharif has announced that the government will pass on the benefit of declining international oil prices to consumers and will unveil a significant reduction in petroleum prices later on Friday.
Speaking in the National Assembly, the prime minister said global oil rates were falling and the government was committed to ensuring relief for the public in line with international market trends.
He said the recent improvement in the regional situation had also contributed to greater economic stability, adding that reduced uncertainty was reflected in global energy markets.
Shehbaz Sharif stated that the government had pledged to transfer any decrease in international fuel prices directly to consumers. He confirmed that a substantial cut in petrol prices would be announced later in the day.
The prime minister also referred to fuel supply management during recent regional tensions, saying that Pakistan did not face any major disruption in petroleum availability.
He added that there were no fuel shortages or long queues at petrol stations, crediting the situation to effective planning and coordination by relevant authorities.
