Islamabad – Prime Minister Shehbaz Sharif Pakistanis announced this week that there will be no further increases in oil prices. According to the PM Office, the decision was made as part of: Shehbaz SharifIt is our commitment to ease the burden of ordinary people in these turbulent times.
In a recent announcement, the Prime Minister said that the global economy is under enormous pressure due to regional tensions, which will inevitably affect Pakistan. He emphasized that timely government policies, stringent austerity measures and financial discipline can help the country address these challenges. He also praised local governments for supporting the centre’s cost-cutting efforts, calling it a "welcome show of unity”.
Sharif He emphasized that thanks to the efforts of Pakistan’s diplomatic and economic teams, sufficient crude oil supplies are available to meet the country’s needs. He assured citizens that the federal and state governments are working together to ensure that they do not pay more than the price set by the government, and prayed that the global situation would stabilize and energy markets would stabilize.
The announcement comes just a week after the war in Iran sent gasoline and diesel prices soaring, dealing a major blow to global oil supplies. Along with the initial increase of Rs55 per liter, the government unveiled a series of austerity measures to protect the economy from further shocks. Speculation about further adjustments has increased after hints that the next petrol price review, originally scheduled for Sunday March 15, will be postponed to Friday.
Pakistan’s top leadership has jointly decided that no further fuel price hike will occur in the near future. Session attended by the Chief of Defense Staff Asim MunirIt also outlined the use of emergency block allocations to absorb potential price shocks.
The prime minister warned that “there can be no worse emergency than the current fuel supply crisis” triggered by the US-Israeli attack on Iran and its aftermath, signaling the government’s determination to protect Pakistanis from global energy chaos.
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