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Prime Minister Shehbaz Sharif has slashed diesel price by 135 rupees per litre and petrol by 12 rupees per litre, giving a substantial relief to masses.
In his address to the nation tonight, he said the diesel will be available at 385 rupees per litre instead of 520 rupees, while new price of the petrol will come down from 378 rupees per litre to 366 rupees. The new prices will be effective from midnight.
Regarding his earlier promise to pass on the dividends of the reduced prices in the international market to public, Shehbaz Sharif said he rejected the proposal not to fully transfer this benefit to the people. He said the reduction in petroleum prices will greatly benefit farmers and support the agriculture sector, particularly during the ongoing wheat harvesting season.
The Prime Minister further highlighted that the targeted subsidy, already announced in collaboration with provincial governments, will continue.
In his address, Shehbaz Sharif termed the hosting of Iran-US peace talks in Islamabad as a matter of immense pride for the country. He expressed hope that the talks would help establish sustainable peace in the region.
The Prime Minister also lauded efforts of Deputy Prime Minister Ishaq Dar and Chief of Army Staff and Chief of Defence Forces, Field Marshal Syed Asim Munir in securing a ceasefire between Iran and the United States, bringing both sides to the negotiating table.
He said leadership of both countries is meeting in Islamabad on Saturday and Pakistan will make its sincere efforts for the success of these talks. He also appealed to the nation to pray for the success of the dialogue.