ISLAMABAD: Prime Minister Shehbaz Sharif has announced that the government will not increase petroleum prices despite rising oil rates in the global market.
In a statement, the prime minister said the decision was taken to reduce the financial burden on the common man. He reiterated the government’s commitment to providing maximum possible relief to the public despite challenging economic conditions.
Shehbaz Sharif noted that the global economy is currently under pressure due to regional tensions, which could also have serious repercussions for Pakistan’s economy.
However, he said the government is working to address the situation through timely policymaking and financial discipline.
The prime minister added that the government had pledged to begin austerity measures from within the ruling elite and government institutions to lessen the burden on lower-income groups.
He welcomed the support of provincial governments, saying they were cooperating with the federal government in implementing cost-saving measures.
Shehbaz Sharif further stated that, with the grace of Allah and the efforts of Pakistan’s diplomatic and economic teams, adequate supplies of crude oil are available to meet the country’s energy needs.
He also emphasized that both federal and provincial authorities are ensuring that petroleum products are not sold above the officially fixed prices, expressing hope that global conditions will improve and fuel prices will stabilize in the near future.
