Maintaining the lower prices is expected to cost the government around Rs56 billion.
Islamabad: PM Shehbaz Sharif has once again refused a proposal to increase petrol and high-speed diesel (HSD) prices, despite a rise in global oil rates.
In a national address, the prime minister said he rejected a summary recommending a hike of Rs95 per litre for petrol and Rs203 per litre for diesel. Instead of passing the burden onto the public, the government will absorb the additional cost.
He explained that petrol should currently be priced at Rs544 per litre, but is being sold at Rs322, while diesel should cost Rs790 but is available at Rs335. Maintaining these lower prices is expected to cost the government around Rs56 billion.
The decision follows an earlier move on March 20, when fuel prices were also kept unchanged, even though a review was scheduled for March 27.
The prime minister said the step is meant to shield citizens from sudden increases while the government manages the financial impact internally.
Speaking about regional matters, he added that Pakistan is actively working on diplomatic efforts to promote peace and stability. He noted ongoing discussions with leaders from Iran and Gulf countries, calling these efforts both an international obligation and a religious responsibility.
He also praised Ishaq Dar for his dedicated diplomatic work and acknowledged the role of Asim Munir in supporting these efforts.
