Karachi: In a swift policy reversal, the government of Pakistan has reduced petrol prices by 80 Pakistani rupees per litre, a day after a steep hike triggered widespread public anger across the country.
Prime Minister Shehbaz Sharif announced the decision in a late-night address, stating that the reduction would bring the petrol price down to 378 rupees per litre. The revised rates came into effect from midnight, offering immediate relief to consumers.
The rollback follows a sharp increase earlier this week, when petrol prices were raised by over 40 per cent, while high-speed diesel saw an even steeper surge. The move had drawn strong criticism from citizens already grappling with inflation and rising living costs.
Explaining the decision, the Prime Minister said the government had cut the additional levy on fuel and assured that prices would remain stable for at least a month. He attributed the earlier hike to volatility in global energy markets, particularly due to tensions in the Gulf region.
Alongside the price reduction, the government unveiled a series of relief measures aimed at easing the burden on different sections of society. These include fuel subsidies for motorcycle users, financial assistance for transport operators, and support for small farmers.
Sharif also announced austerity steps within the government, stating that federal cabinet members would forgo their salaries for six months as part of efforts to manage the economic strain.
In addition, the government said there would be no fare increase for economy-class passengers in Pakistan Railways, and that the relief measures would extend to regions including Pakistan-occupied Kashmir and Gilgit-Baltistan.
The decision marks a significant shift in policy amid mounting public pressure, as authorities attempt to balance fiscal challenges with the need to cushion citizens from the impact of rising fuel costs.
