Key Points:
- Proposed increase included Rs56 petrol, Rs203 diesel per litre.
- Earlier proposals for steep hikes were also turned down.
- Billions already absorbed to prevent cumulative fuel price increases.
- Pakistan pursuing diplomatic efforts to help end regional conflict.
- Targeted subsidy mechanism planned to ensure relief reaches deserving groups.
ISLAMABAD: Pakistan’s Prime Minister Shehbaz Sharif on Friday announced that he had turned down a fresh proposal to increase the prices of petrol and high-speed diesel (HSD), reiterating the government’s commitment to shield citizens from rising fuel costs.
In a televised address to the nation, the premier said he had received a summary recommending an increase of Rs56 per litre in petrol prices and Rs203 per litre in HSD. “I have rejected this proposal in the interest of the public,” he said.
The Prime Minister began his address by referring to the ongoing conflict in the Middle East, noting that global oil prices had surged sharply as a result. “The government was making all possible efforts to minimise the impact of these increases on the domestic market,” he said.
He also highlighted Pakistan’s diplomatic outreach, saying Islamabad was actively engaged in efforts to help de-escalate the situation.
Pakistan is making sincere and proactive diplomatic efforts to help bring this war to an end, so that the region and brotherly Muslim countries are spared further devastation,” he said.
He added that these efforts were aimed at achieving durable peace through collective wisdom and consultation, emphasising that Pakistan’s role was driven both by its international responsibilities and its commitment to the broader Muslim world.
Govt continues relief measures
The latest decision builds on earlier steps taken by the government to absorb rising fuel costs and prevent their transmission to consumers.
In a previous address on March 20, the prime minister had announced that the government would bear an additional Rs45 billion burden to keep petroleum prices unchanged for a fortnight ahead of Eidul Fitr.
A proposal to increase petrol prices by Rs76 per litre and diesel by Rs177 per litre had also been rejected. He had noted that the government had already absorbed Rs69 billion over two weeks to prevent cumulative increases of Rs127 per litre in petrol and Rs252 per litre in diesel.
“This is not a sustainable solution, but we are making every effort to protect the common man,” he had said.
Global factors at play
The government’s decisions come against the backdrop of escalating tensions in the Middle East, which have disrupted global energy markets and driven oil prices upward.
Analysts have warned that crude prices could rise significantly if supply routes remain affected, particularly around key transit points such as the Strait of Hormuz.
