Summary PM Shehbaz Sharif cuts petrol price by Rs80 per litre to Rs378, announcing subsidies for bikers, transport and public relief amid global oil surge.
ISLAMABAD (Dunya News) – Prime Minister Shehbaz Sharif has announced a significant reduction in petrol prices, lowering the rate by Rs80 per litre in a move aimed at easing the financial burden on citizens amid surging global oil prices.
In an address to the nation from Islamabad, the premier said Pakistan is facing challenging economic conditions as international fuel prices continue to rise sharply. He noted that the impact of global inflation has extended across regions, affecting even the world’s strongest economies, with Pakistan also experiencing severe repercussions.
He confirmed that the new petrol price has been set at Rs378 per litre for a period of one month. The reduction follows a cut in the petroleum levy by Rs80 per litre, forming part of a broader relief package designed to shield the public from escalating energy costs.
Highlighting the gravity of the situation, the prime minister said the surge in global oil prices has placed immense pressure on national economies. He acknowledged the difficulties faced by ordinary citizens, stating that the government is fully aware of the challenges in managing household expenses under current conditions.
Over the past three weeks, the government has provided subsidies amounting to Rs129 billion from national resources. These measures, he said, were aimed at preventing the full impact of rising fuel costs from reaching the public, describing the situation as an economic storm that required immediate intervention.
The prime minister also referred to ongoing international developments, expressing hope for an early restoration of peace in conflict-affected regions contributing to volatility in global markets. He noted that efforts are under way at multiple levels, with key figures including Ishaq Dar engaged in diplomatic initiatives linked to ceasefire discussions.
Detailing the consultative process, Shehbaz Sharif said extensive meetings were held involving national leadership, including the president and the chief ministers of all four provinces. Deliberations took place at both the Presidency and the Prime Minister’s Office to ensure a coordinated response to the economic challenges.
How motorcyclists in Sindh and Punjab can claim Rs2,000 petrol subsidy
In addition to the petrol price reduction, the government has announced targeted subsidies for various sectors. Motorcyclists will receive a subsidy of Rs100 per litre, aimed at supporting low-income commuters who rely heavily on two-wheelers for daily travel.
The transport sector has also been included in the relief measures. Subsidies will be extended to freight and commercial vehicles to offset rising operational costs. Public transport buses are set to receive a monthly subsidy of Rs100,000 to help maintain fare stability for passengers.
The prime minister further confirmed that fares for economy-class train travel will not be increased, ensuring continued affordability for commuters relying on rail services across the country.
Officials said the measures reflect the government’s attempt to utilise limited national resources effectively while addressing the growing economic strain faced by the public due to global energy price fluctuations.
