Prime Minister Shehbaz Sharif has announced that the petrol price slashed by Rs80, offering much-needed relief to people struggling with rising expenses. The decision comes at a time when global oil prices continue to put pressure on the country’s economy.
In a national address, the prime minister said the government took this step to reduce the financial burden on citizens. He explained that international fuel prices have surged in recent weeks, affecting economies worldwide, including Pakistan. Despite limited resources, the government decided to pass on relief to the public.
With the petrol price slashed by Rs80, the new rate has been set at Rs378 per litre for one month. This reduction became possible after a major cut in the petroleum levy. The move is part of a broader effort to control the impact of rising fuel costs.
The government has already spent Rs129 billion in subsidies over the past three weeks. Officials say this helped protect people from the full impact of global price hikes. The prime minister described the situation as an economic challenge that required quick action.
He also shared hope that global tensions affecting oil markets will ease soon. Diplomatic efforts are ongoing to stabilize the situation, which could help bring further relief in the future.
Along with the petrol price slashed by Rs80, additional support measures have been introduced. Motorcyclists will get a subsidy of Rs100 per litre, aimed at helping daily commuters. The transport sector will also benefit, with financial support for freight and commercial vehicles.
Public transport operators will receive a monthly subsidy to keep fares stable. In addition, train fares for economy-class passengers will remain unchanged, ensuring affordable travel for the public.
The government says these steps are designed to use available resources wisely while supporting people facing economic pressure due to global energy price changes.
