Prime Minister Shehbaz Sharif has decided not to increase the prices of petroleum products this time despite a rise in oil prices in the international market.
According to a statement issued on Friday, the decision has been taken in line with the commitment made to the public and to reduce the financial burden on the common man.
The Prime Minister said the government will continue to provide as much relief as possible to the people in these difficult circumstances.
Shehbaz Sharif said the global economy is currently under pressure due to tensions in the region, which could have significant implications for Pakistan’s economy. He said the government is making efforts to deal with the situation to the best possible extent through timely policy-making, austerity measures, and fiscal discipline.
The Prime Minister said that as “Khadim-e-Pakistan”, he has resolved to begin efforts to reduce the burden on the poor by introducing austerity measures, starting with the government and the country’s elite. He added that provincial governments are also fully supporting the federal government’s austerity initiatives, which is encouraging.
Shehbaz Sharif said that, by the grace of Allah and due to the efforts of the diplomatic and economic teams, adequate quantities of crude oil are available to meet the country’s requirements.
He said the federal and provincial governments are jointly ensuring that no one charges prices higher than the government-fixed rates.
The Prime Minister expressed hope that the global situation will improve and that stability will return to petroleum products’ prices in the international market.
