By Our Correspondent
ISLAMABAD – Shehbaz Sharif on Friday announced a reduction of Rs80 per litre in the petrol levy, bringing the revised petrol price down to Rs378 per litre after it had reached Rs458.
Read also: Petrol price raised to Rs458, diesal Rs530 per litre in major hike
In a televised address, the prime minister said Pakistan was facing difficult economic conditions due to a conflict in the Middle East, which has led to a sharp rise in global oil prices. He added that the increase had affected the country as well, putting pressure on citizens, particularly low-income groups and farmers.
Sharif said the government had tried to make the best use of limited national resources to provide relief to the public. He emphasised that despite rising international oil prices, the government had avoided passing the full burden on to consumers over the past three weeks.
He also noted that inflationary pressures were being felt worldwide, with even major economies struggling to cope with rising costs.
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