Prime Minister Shehbaz Sharif on Friday addressed the nation to update citizens on the economic situation, ongoing austerity measures, and petroleum product prices amid the escalating Middle East conflict.
Rejecting recommendations to raise fuel prices, he announced that petrol and diesel rates will remain unchanged. Authorities had proposed an increase of Rs50 per litre for petrol and Rs74 per litre for diesel.
Shehbaz Sharif said the decision prioritises national interest and public relief, offering important support to people already struggling with inflation.
“We will bear this burden ourselves, but we will not place it on the people,” the prime minister said, underlining his commitment to shield the public from the ripple effects of rising global fuel prices as markets worldwide see petroleum costs surge.
The decision is being hailed as a major relief for the population ahead of Eid, offering respite during a period of rising living costs and economic uncertainty. By rejecting the proposed fuel price hike, the government has signalled a focus on citizen welfare while continuing measures to manage the national economy effectively.
PM Shehbaz also reiterated the government’s commitment to implementing austerity measures across state departments to balance the economic burden without affecting the public directly. These steps include tighter fiscal controls and prioritising expenditure on essential services and public welfare programmes.
The announcement has generated widespread response, with citizens welcoming the government’s decision to absorb economic pressures instead of passing them onto consumers. Analysts note that this approach aims to stabilise domestic markets and maintain public confidence amid a volatile international energy landscape.