PM slashes petrol price by Rs12, diesel by Rs135 per litre
ISLAMABAD: Prime Minister Shehbaz Sharif has slashed petrol price by Rs12 and diesel by Rs135 per litre.
In his address to the nation on Friday night, the prime minister briefed the public on fuel prices in the country.
His address comes as Pakistan gears up to host high-stakes peace talks between the United States and Iran in Islamabad.
He thanked the Iranian and United States leadership for accepting his offer and agreeing not only to a temporary ceasefire but also coming to Islamabad on his invitation, where he said dialogues would be held to establish peace.
Last month, the government increased the prices of petroleum products by Rs55 per litre, citing a rise in international market rates amid the US-Iran war in the Middle East.
Officials said that for the next three weeks, the government refrained from further price increases, with the prime minister bearing the brunt of the adjustment by providing a subsidy of Rs129 billion.
However, on April 2, the government raised the petrol price by Rs137 per litre, taking it to a record Rs458.4, while also increasing the price of high-speed diesel to Rs520.35 per litre — an increase of Rs185 per litre or 55 per cent.
Shortly after the announcement, within 24 hours, PM Shehbaz reduced the petroleum levy on petrol by Rs80 per litre, bringing the petrol price down to Rs378 per litre. Staff Report
