ISLAMABAD: Prime Minister Shehbaz Sharif on Friday night announced a significant reduction in fuel prices while addressing the nation, combining economic relief measures with a major diplomatic development as Pakistan prepares to host high-level talks between the United States and Iran.
In a televised address, Sharif announced a substantial cut in fuel prices, offering immediate relief to consumers. Diesel prices have been reduced by Rs135 per litre, while petrol prices have been lowered by Rs12 per litre. The move follows the government’s earlier decision to reduce the petrol levy by Rs80 per litre, which had brought petrol prices down to Rs378 per litre in the previous week.
The latest reduction in diesel is expected to have a wide-ranging economic impact, particularly on transportation, agriculture and supply chains, where diesel remains a primary fuel. The comparatively smaller cut in petrol prices is also likely to ease costs for private motorists and urban commuters.
Sharif said the government remained focused on maintaining adequate fuel stocks and ensuring price stability, as part of broader efforts to manage economic pressures. He noted that the adjustments were made after careful consideration of international market trends and domestic fiscal conditions.
The address comes at a time when Pakistan is navigating both economic challenges and an increasingly prominent diplomatic role.
The premier described the moment as “historic”, pointing to a shift in regional dynamics where dialogue is taking precedence over conflict in the Gulf. He stated that parties previously engaged in tensions have now agreed to pursue negotiations, signalling a potential breakthrough in regional stability. He confirmed that Pakistan is set to host crucial peace talks in Islamabad between the United States and Iran, positioning the country at the centre of diplomatic efforts.
The prime minister also thanked the leadership of both nations for accepting his proposal for a two-week ceasefire and for agreeing to visit Pakistan to engage in dialogue aimed at restoring peace. He described the development as a moment of pride not only for Pakistan but for the wider Muslim world.
