ISLAMABAD: Prime Minister Shehbaz Sharif has decided not to increase the prices of petroleum products despite a rise in international oil prices, aiming to provide relief to consumers and reduce the financial burden on the public.
According to a statement issued by the Prime Minister’s Office, the premier said the decision reflects the government’s commitment to supporting citizens during a period of economic uncertainty.
“Prices are not being increased to reduce the burden on the common man,” the prime minister said, adding that he remained committed to providing maximum possible relief to the public.
The premier noted that the global economy is currently facing pressure due to regional tensions, which could significantly affect Pakistan’s economic stability. However, he emphasized that the government’s timely policy decisions, austerity measures and financial discipline were helping manage the situation effectively.
He also appreciated the cooperation of provincial governments in implementing austerity initiatives alongside the federal government.
According to the prime minister, Pakistan currently has sufficient crude oil supplies to meet its domestic needs, thanks to the efforts of the government’s diplomatic and economic teams.
“The federal and provincial governments are working together to ensure that no consumer is charged more than the prices set by the government,” he said, expressing hope that the global situation would stabilize and petroleum prices would eventually ease.
The decision comes amid heightened tensions in the Middle East following the U.S.-Israel attacks on Iran, which have disrupted global oil supply chains and caused volatility in international energy markets.
Last week, the government had already raised petrol and diesel prices as part of adjustments linked to the evolving global situation. In response to the ongoing crisis, the government also announced several austerity measures aimed at stabilizing the economy.
The next petroleum price review was originally scheduled for March 15, though officials had indicated that the decision could be announced earlier due to the rapidly changing global energy situation.
According to official sources, the prime minister recently informed a consultative session attended by federal and provincial representatives that after the initial Rs55 per litre increase, the government had decided not to introduce further price hikes in the near future, regardless of developments in the Middle East.
The meeting was also attended by Asim Munir, Chief of Defence Forces, where discussions focused on managing the economic impact of global fuel supply disruptions.
Sources said the government is prepared to utilize emergency budget allocations to absorb potential increases in international oil prices. The prime minister reportedly told participants that the country was already facing an extraordinary situation due to fuel supply uncertainties triggered by the regional conflict.
“No other emergency could be worse than the situation currently faced by the nation due to disruptions in fuel supplies,” he was quoted as saying.
