ISLAMABAD: Prime Minister Shehbaz Sharif announced that petrol and high-speed diesel (HSD) prices will remain stable. The government rejected a proposal to hike fuel rates despite rising global oil prices.
The federal government was scheduled to review fuel prices on March 27. On March 20, Pakistan had already kept petrol and diesel rates unchanged.
PM Shehbaz said he received a summary asking to increase petrol by Rs95 per litre and diesel by Rs203 per litre. He rejected the proposal. The government will absorb the extra cost instead of passing it to the public.
Currently, petrol costs Rs322 per litre. Diesel sells at Rs335 per litre. Market rates should be Rs544 per litre for petrol and Rs790 per litre for diesel. Maintaining current prices will cost the government about Rs56 billion.
Shebaz Sharif said this decision protects consumers from sudden price hikes. It also manages the economic impact on the country. Citizens will continue to benefit from stable fuel rates during the global oil crisis.
PM Shehbaz also spoke on regional security. He said Pakistan is working on two diplomatic fronts to protect friendly countries from ongoing conflicts.
He held talks with leaders of Iran and Gulf countries. He called Pakistan’s diplomacy both an international duty and a religious responsibility. He praised Foreign Minister Ishaq Dar for his dedication.
PM also recognized Chief of Defence Forces Field Marshal Asim Munir for his role in supporting the country’s diplomacy.
PM Shehbaz said Pakistan remains active on diplomatic channels day and night. The goal is to promote stability and peace in the region.
The government’s move comes as global oil prices keep rising. Keeping Pakistan fuel prices stable will help reduce the financial burden on citizens. It also ensures uninterrupted fuel supply for industries and transportation.
The prime minister said Pakistan will continue talks with regional and international partners. The aim is to manage the impact of the regional conflict and protect the economy.
By maintaining fuel prices, Pakistan is taking steps to support households and businesses. This move also improves public confidence amid uncertain global oil markets.
