Prime Minister Shahbaz Sharif Announces No Increase in Petroleum Prices Despite Global Hike

Islamabad: Prime Minister Shahbaz Sharif announced that the prices of petroleum products will remain unchanged next week, despite a rise in global oil prices. The decision is in line with his government’s commitment to provide relief to the common man during challenging economic conditions.

In a statement from the Prime Minister’s Office, Shahbaz Sharif emphasized that the government aims to reduce the burden on ordinary citizens and fulfill its promises by ensuring that petroleum product prices are not increased.

He noted that regional tensions are putting pressure on the global economy, which could have significant impacts on Pakistan’s economy. The Prime Minister said that timely policymaking, fiscal discipline, and government austerity measures are being employed to manage the situation effectively, with a focus on easing the burden on low-income citizens.

Shahbaz Sharif also highlighted that both federal and provincial governments are collaborating to prevent any charges above the official rates, and expressed hope that global conditions will stabilize to maintain petroleum prices at reasonable levels.

He credited the efforts of Pakistan’s diplomatic and economic teams for ensuring an adequate supply of crude oil to meet the country’s domestic requirements.