The prices of petrol and diesel should be Rs544 and Rs790 per litre, respectively, but the government is absorbing the cost, the Prime Minister said.
Prime Minister Shehbaz Sharif has once again rejected a proposal to raise petrol and high-speed diesel (HSD) prices, despite a surge in global oil rates.
The premier announced that petrol and diesel prices will remain unchanged during an address to the nation. The decision comes ahead of a scheduled federal review of fuel prices on March 27. Previously, on March 20, the government had also maintained the existing rates.
Addressing the nation on Friday, PM Shehbaz Sharif said he received a summary requesting an increase of Rs95 per litre for petrol and Rs203 per litre for diesel.
However, he rejected the proposal, stating that the government will absorb the additional cost rather than passing it on to the public.
He said petrol should cost Rs544 per litre today, but the government is providing it at Rs322 per litre. Similarly, diesel should be Rs790 per litre, yet it is being sold at Rs335 per litre.
“The government estimates that maintaining current prices will cost around Rs56 billion,” the prime minister added.
PM Shehbaz Sharif said this measure is intended to protect consumers from sudden price hikes while managing the economic impact internally.
On the regional situation, the premier stated that Pakistan is working on multiple fronts to ensure the region and friendly countries are safeguarded from the destructive effects of war.
He noted that he has held detailed talks with leaders of Iran and Gulf countries, describing Pakistan’s diplomatic efforts as both an international duty and a religious responsibility. “Foreign Minister Ishaq Dar is working with full effort and sincerity,” he said.
The prime minister also acknowledged the role of Chief of Defence Forces (CDF) Field Marshal Asim Munir, highlighting his key contribution to the process.
PM Shehbaz added that Pakistan remains actively engaged on diplomatic channels around the clock to promote stability and peace in the region.
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