Prime Minister Shehbaz Sharif on Friday said the government would pass on the benefit of falling international oil prices to the public and announce a significant reduction in petroleum prices later today.
Addressing the National Assembly, the prime minister said global oil prices were declining and the government would honor its commitment to provide relief to consumers.
He said the recent ceasefire had improved the regional outlook and would contribute to economic stability and prosperity. According to the prime minister, the decline in international oil prices signaled that the uncertainty created by the recent crisis was beginning to subside.
Shehbaz Sharif said the government had pledged to transfer the benefit of any reduction in global oil prices directly to the people. He announced that a significant cut in petrol prices would be made later today.
The prime minister also highlighted the government’s handling of fuel supplies during the recent tensions, saying Pakistan avoided any major disruption despite concerns about regional instability.
He noted that there were no long queues at petrol stations and no fuel crisis emerged during the period, adding that the situation remained under control due to effective planning and coordination.
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