Islamabad: Prime Minister has announced reduction in prices of petrol by 74 rupees per liter and diesel by 67 rupees per liter.

According to Radio Pakistan, in a post on X today, he said the new per litre prices of petrol will be 299 rupees and diesel 311 rupees. The Prime Minister emphasized that the dividends of the improved regional situation and reduced oil prices are being passed on to the public. He acknowledged the hardships faced by the common people, who demonstrated exemplary patience and resilience during this difficult situation, and expressed gratitude for their support.

Shehbaz Sharif highlighted that the government utilized its resources to mitigate fuel prices as much as possible from the very beginning of this crisis. He stated that the federal government provided maximum relief to the citizens, spending 129 billion rupees secured through austerity measures and the development budget to counteract the skyrocketing oil prices.

The Prime Minister noted that despite the challenging economic situation in the region, Pakistan successfully avoided an energy crisis due to the government's better planning. He pointed out that while some countries faced fuel rationing, Pakistan experienced no fuel shortages or long queues at filling stations, thanks to the timely and prudent steps taken by the government.

Shehbaz Sharif extended his gratitude to the provincial Chief Ministers, noting the cooperation between the federation and provinces to keep the national economy stable. He reiterated the government's commitment to protecting the public from global inflation and vowed to continue taking effective measures to maintain economic stability and reduce inflation.

The Prime Minister underscored the government's adoption of austerity measures at the official level and the provision of targeted subsidies to underprivileged segments of society. He affirmed that providing maximum relief to the public remains the government's top priority.

Reflecting on international diplomacy, the Prime Minister mentioned Pakistan's successful mediation efforts that led to peace in the Middle East. He highlighted the signing of the 'Islamabad Memorandum of Understanding', describing it as a landmark document. The Prime Minister extended special congratulations to Field Marshal Syed Asim Munir for his efforts, and paid tribute to Deputy Prime Minister Ishaq Dar, Interior Minister Mohsin Naqvi, and the entire team of the Government of Pakistan for their active participation in the peace efforts.