PM Shehbaz announces major relief measures, Rs80 cut in petroleum levy
| Rs100 per litre subsidy for motorcycles, freight vehicles | Rs70,000 to Rs80,000 financial support for goods transport, public transport operators | Passenger buses will receive up to Rs100,000 subsidy per month
Prime Minister Shehbaz Sharif has announced a significant reduction in the petrol levy, cutting it by Rs80 per litre in a major move aimed at providing relief to the public amid rising global oil prices.
Addressing the nation on Friday night, the prime minister said the decision was taken with immediate effect to shield citizens from the impact of escalating fuel costs driven by the ongoing Gulf crisis. Following the adjustment, the price of petrol has been fixed at Rs378 per litre.
He acknowledged that the country is facing difficult circumstances, noting that global oil prices have surged sharply, placing pressure even on strong economies worldwide. Despite these challenges, he emphasized that the government had not passed on the full burden of rising oil prices to the public over the past three weeks.
The prime minister stated that the government has spent Rs129 billion to prevent the “storm of inflation” from affecting ordinary citizens. He added that both political and military leadership have been actively working for a ceasefire to stabilize the situation.
Highlighting additional relief measures, Shehbaz announced a subsidy of Rs100 per litre for motorcycles and freight vehicles. He also revealed financial support ranging from Rs70,000 to Rs80,000 for goods transport and public transport operators, while passenger buses will receive subsidies of up to Rs100,000 per month.
In a bid to support the agriculture sector, the prime minister announced a subsidy of Rs1,500 per acre for small farmers. He further assured that railway fares would not be increased for any class, providing further relief to commuters.
The premier noted that provincial governments have also contributed resources to support these measures, adding that the relief package will be applicable across the country, including Gilgit-Baltistan and Azad Kashmir.
He reiterated the government’s commitment to utilizing national resources for public welfare and vowed to continue efforts to reduce the economic burden on citizens during these challenging times.