ISLAMABAD (MNN); Shehbaz Sharif announced on Friday that he has once again rejected a proposal to increase the prices of petrol and high-speed diesel (HSD), prioritising public relief amid a global fuel crisis.
Addressing the nation, the premier said he was advised to approve an increase of Rs95 per litre in petrol and Rs203 per litre in HSD, but he refused the move. This comes just a week after he similarly rejected a hike of Rs76 per litre in petrol and Rs177 per litre in diesel.
He stated that due to rising international oil prices—driven by the ongoing conflict involving Iran—petrol should cost Rs544 per litre and HSD Rs790 per litre in Pakistan. However, the government is currently providing them at Rs322 and Rs335 respectively, absorbing the difference.
The prime minister revealed that the government will bear a burden of Rs56 billion this week alone, bringing the total relief provided over the past three weeks to Rs125 billion. He said this was made possible through austerity measures, including a Rs100 billion cut in the development budget.
He also announced that the federal and provincial governments have agreed to introduce a mobile app-based fuel quota system for two- and three-wheelers to ensure targeted subsidies for low-income groups.
Calling the global situation “extraordinary,” the premier urged citizens to adopt austerity in daily life, reduce unnecessary travel, and support the government’s upcoming economic plan.
He added that while many countries are facing fuel shortages and soaring prices, Pakistan has managed to maintain stability through timely decisions.
On the diplomatic front, PM Shehbaz said Pakistan is actively working to promote peace in the Middle East. He noted that Ishaq Dar and Asim Munir are playing key roles in efforts to ease tensions and restore regional stability.
