Pakistan will not increase petroleum product prices this time despite a rise in global oil prices, Prime Minister Shehbaz Sharif said on Friday, citing the government’s commitment to reducing the burden on ordinary citizens.
Petrol will stay at Rs. 321.17 per litre while diesel at Rs. 335.86 per litre until next week’s review of petroleum prices.
The prime minister said the decision was taken in line with a promise made to the public and aimed at providing relief during difficult economic conditions.
“Wherever possible, we will continue to provide relief to the people even in these challenging times,” Sharif said, noting that rising geopolitical tensions in the region have put pressure on the global economy and could have significant implications for Pakistan.
He said the government is trying to manage the situation through timely policy decisions, austerity measures and financial discipline.
Sharif added that, as a public servant, he is committed to reducing the burden on lower-income groups, starting with cost-cutting measures within the government and the country’s elite.
He said provincial governments are also supporting the federal government’s austerity measures, which he described as encouraging.
The prime minister said Pakistan currently has sufficient crude oil supplies to meet domestic needs due to the efforts of the country’s diplomatic and economic teams.
He added that federal and provincial authorities are working together to ensure that no retailer charges more than the government-notified fuel prices.
Sharif expressed hope that global conditions would improve and that stability would return to international petroleum markets.