Prime Minister Shehbaz Sharif has decided not to increase petroleum prices at this time, despite rising global oil prices, in an effort to ease the burden on the public. He stated that the government remains committed to providing as much relief as possible to ordinary citizens.
He acknowledged that regional tensions are placing pressure on the global economy and could significantly affect Pakistan as well. However, he said the government is trying to manage the situation through timely policymaking, austerity measures, and financial discipline. He also noted that the provincial governments are supporting the Centre’s efforts, while the country has sufficient crude oil supplies to meet its needs.
The prime minister further said that both federal and provincial authorities are working together to ensure that petroleum products are not sold above the official rates. Although the government had raised petrol and diesel prices a week earlier due to disruptions in oil supply linked to the conflict involving Iran, it has now chosen to hold prices steady. Reports also indicate that the government is prepared to absorb further increases for the time being through emergency allocations, considering the present fuel-related crisis one of the most serious challenges facing the country.
