Prime Minister Shehbaz Sharif on Friday rejected proposals to sharply raise petrol and diesel prices, deciding to keep rates unchanged to protect ordinary citizens amid soaring global oil costs. The government had received recommendations to increase petrol by Rs50 per litre and diesel by Rs74 per litre, with cumulative proposals reaching Rs76 per litre for petrol and Rs177 per litre for diesel. All were turned down.
Addressing the nation ahead of Eidul Fitr, the prime minister emphasized that public welfare was his top priority and the government would absorb the burden of rising international oil prices. He noted that the state had already spent Rs69 billion to prevent potential price hikes of Rs127 per litre in petrol and Rs252 per litre in diesel, utilising funds from the development budget to subsidize petroleum products and ease consumer pressure.
Sharif highlighted the broader impact of the ongoing Middle East conflict, which disrupted global supply chains and pushed crude oil to a two-year high. He called for values such as selflessness, hard work, and compassion to navigate these extraordinary challenges.
The prime minister also reminded citizens that two weeks ago, petrol and diesel prices had already been raised by Rs55 per litre to generate revenue for subsidizing diesel, widely used in public transport and agriculture. Despite further international price increases, he chose to honour his commitment to the public by maintaining fuel rates, ensuring relief for households and businesses.
