PM Sharif announces 'substantial' cut in petrol prices tonight

ISLAMABAD: Prime Minister Shehbaz Sharif has announced a major cut in petrol prices tonight, ARY News reported on Friday.

Addressing the National Assembly, Prime Minister Shehbaz Sharif said that the government had committed to passing on any reduction in petrol prices to the public, and therefore a significant cut in fuel prices will be announced today.

Shehbaz Sharif stated that Pakistan’s name is currently being recognised with honour and dignity across the world, adding that the country’s standing has improved in every region.

He noted that around three months ago, the US-Israel war against Iran had led to a sharp rise in global oil prices. However, following the ceasefire, prices have begun to decline rapidly, with further reductions expected.

He said the easing of tensions would also contribute to regional economic stability and prosperity.

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The premier added that the so-called “dark period” of high prices is now coming to an end, and that weekly adjustments in petrol and diesel prices are being made in light of changing global trends.

He confirmed that a substantial reduction in fuel prices would be announced today.

Urging national unity, Shehbaz Sharif said that the government and all political stakeholders remain united for the national interest. He thanked the Deputy Prime Minister for his contributions, as well as Interior Minister Mohsin Naqvi for his role in matters relating to Iran.

He also acknowledged the Leader of the Opposition, stating that all political parties had played a part in recent developments.

Shehbaz Sharif further said that the most significant role in these achievements was played by Field Marshal Syed Asim Munir.