PM Shehbaz Announces Petrol Levy Cut to Lower Fuel Price to Rs378 per Litre
By Shahzad Paracha :
Prime Minister Shehbaz Sharif has announced an immediate reduction of Rs80 per litre in the petroleum levy on petrol, a move aimed at lowering the retail price of the fuel to Rs378 per litre across Pakistan.
Under the new decision, the cut in the levy will bring the price of petrol down by Rs80 per litre, with the revised rate taking effect from midnight. Fuel stations across the country are expected to sell petrol at the reduced price starting immediately.
In a televised address to the nation, Mr Sharif said the government was responding to a surge in global oil prices triggered by escalating tensions in the Gulf region. He described the situation as a “harsh reality”, warning that rising energy costs were placing severe pressure on households, farmers and businesses.
The prime minister said the government had tried to shield citizens from the full impact of international price increases over the past three weeks. “I was fully aware of the difficulties faced by ordinary people in managing their household expenses, which is why we delayed passing on the daily rise in oil prices,” he said.
While petrol prices have now been partially reduced, the government earlier raised the price of high-speed diesel by Rs185 per litre to Rs520.35. However, the petroleum levy on diesel has been removed, leaving only a Rs2.5 per litre carbon levy along with import duties.
Mr Sharif also unveiled a package of temporary relief measures aimed at easing the burden on key sectors of the economy. Motorcycle users will receive a subsidy of Rs100 per litre of petrol, while transport operators will be given financial assistance for one month. Under the scheme, small trucks will receive Rs70,000, larger trucks Rs80,000 and public transport buses Rs100,000 in an effort to prevent increases in fares and the prices of essential goods.
Farmers have also been included in the support programme, with the government announcing financial assistance of Rs1,500 per acre for small growers. The prime minister said Pakistan Railways had been directed to keep economy class fares unchanged despite rising fuel costs.
According to Mr Sharif, the relief measures will apply nationwide, including in Gilgit-Baltistan and Azad Kashmir, with the federal government providing the necessary funding.
He thanked provincial chief ministers for pledging support and stressed that the economic challenge could only be addressed through national unity and cooperation between federal and provincial authorities.
In a symbolic step, the prime minister said members of the federal cabinet would now contribute their salaries to the national exchequer for six months instead of two, arguing that every possible saving should be used to reduce the burden on citizens.
Despite the current economic pressures, Mr Sharif expressed confidence that the country would overcome the crisis and move towards stability and growth in the months ahead.
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