PM Rejects Fuel Price Hike Proposal, Bears Rs 56bn Burden This Week

Prime Minister Muhammad Shehbaz Sharif rejected a proposal to increase petrol by Rs 95 per litre and diesel by Rs 203 per litre in his televised address. The government is bearing the burden of Rs 56 billion this week due to fuel, with petrol sold at Rs 322 per litre instead of Rs 544 and diesel at Rs 335 instead of Rs 790.

The prime minister said the government has borne a historic burden of Rs 125 billion on account of fuel since the crisis began. He urged people to conserve fuel by making significant changes in their daily lives, such as thinking twice before traveling or using cars/motorbikes frequently.

He noted that prices have doubled in many countries around the world and long queues form at petrol pumps. The government cannot face this situation alone, he said, appealing for full cooperation from the people according to a comprehensive plan to be announced soon.

Pakistan is making efforts to mediate peace in the region, the Prime Minister stated, committed to keeping it safe from conflict. He discussed with leaders of Iran and Gulf countries, Deputy Prime Minister Ishaq Dar working on these efforts, while Chief of Army Staff Field Marshal Syed Asim Munir playing a pivotal role.

The world is facing an extraordinary situation, Shehbaz Sharif said, with even major economies appearing helpless. The government has taken immediate decisions to reduce the economic burden on the common man, including reducing the development budget by Rs 100 billion and implementing austerity measures.