PM Shehbaz Sharif announces no increase in fuel price despite global oil surge

Prime Minister Shehbaz Sharif has announced that petroleum product prices will not be increased despite the rise in global oil prices.

In a statement, the prime minister said the decision had been taken to reduce the financial burden on ordinary citizens.

He added that, as promised, the government would provide as much relief to the public as possible despite the challenging circumstances.

Sharif said the global economy is currently under pressure due to tensions in the region, and there is a risk that this pressure could also significantly affect the economy of Pakistan.

The prime minister stated that the government is attempting to manage the situation through timely policymaking and fiscal discipline.

He also reaffirmed the commitment to begin reducing the burden on the poor by implementing austerity measures within the government and among the elite.

He noted that it is encouraging that provincial governments are also supporting the federal government’s cost-saving measures. With the grace of God and the efforts of the diplomatic and economic teams, he said, sufficient quantities of crude oil are available to meet the country’s requirements.

Sharif further stated that both federal and provincial authorities are ensuring that petroleum products are not sold above the officially set prices.

He added that the government hopes global conditions will improve and stability will return to petroleum prices.