ISLAMABAD: Shehbaz Sharif on Friday unveiled a major relief package, including a reduction of Rs80 in the petroleum levy, aimed at easing the burden on citizens amid rising global oil prices.
Following the adjustment, the price of petrol has been set at Rs378 per litre.
Addressing the nation, the prime minister acknowledged the economic challenges posed by the ongoing Gulf crisis, noting that surging international oil prices have impacted even the world’s strongest economies. He stressed that the government had absorbed a significant portion of the increase over the past three weeks to shield the public.
He revealed that around Rs129 billion had been spent to contain inflationary pressure and protect consumers from a sharp price shock. He also highlighted ongoing diplomatic efforts by both civil and military leadership to promote a ceasefire and regional stability.
Targeted Subsidies Announced
As part of the relief measures:
Motorcyclists and freight vehicles will receive a subsidy of Rs100 per litre on fuel.
Goods transport and public transport operators will be given financial assistance ranging from Rs70,000 to Rs80,000.
Passenger buses will receive subsidies of up to Rs100,000 per month.
To support the agriculture sector, the government announced a subsidy of Rs1,500 per acre for small farmers.
The prime minister further assured that railway fares will remain unchanged, providing additional relief to commuters.
He noted that provincial governments have also contributed resources to the package, which will be implemented nationwide, including in Gilgit-Baltistan and Azad Kashmir.
Reaffirming his commitment, the premier said the government will continue to utilize all available resources to support citizens and reduce economic hardships during the ongoing crisis.
