PM Shehbaz tells nation to be ready for another hike in petrol prices

Prime Minister Shehbaz Sharif on Monday warned that fuel prices in Pakistan could increase again in the coming days due to the ongoing tensions between Iran and Israel and the closure of the Strait of Hormuz, which has disrupted global oil supplies.

Addressing the nation, the prime minister said the situation could trigger a severe fuel crisis if timely measures are not taken. He noted that international oil prices have surged from about $60 per barrel to nearly $100 per barrel in recent days, warning that the situation could further worsen in the coming days.

The prime minister said the government had already taken difficult decisions to stabilise the economy, acknowledging that the recent increase in fuel prices was a tough step. He explained that a much larger increase had initially been proposed but the government opted for a middle path to reduce the burden on citizens.

Sharif emphasized that Pakistan largely depends on oil imported from Gulf countries and that global market prices are beyond the government’s direct control. However, he assured the public that the government would make every possible effort to minimize the impact on ordinary citizens and keep the national economy stable.

The premier also condemned the killing of Iranian Supreme Leader Seyyed Ali Khamenei and members of his family, along with Iranian civilians, in ongoing Israeli air strikes. He said Pakistan stands for the integrity and security of brotherly Islamic countries, including Saudi Arabia, Qatar and Bahrain, and strongly condemned attacks on them.

He further said Pakistan’s armed forces, under the leadership of Field Marshal Asim Munir, are fully prepared to ensure the country’s security.

To cope with the emerging economic challenges, the prime minister announced several austerity measures. These include a 50 percent reduction in fuel usage for official vehicles, suspension of salaries for ministers and advisers, and a two-day salary contribution from Grade 20 and above government officers for public relief efforts.

The government has also banned foreign visits by the prime minister, ministers and advisers, imposed a 20 percent cut in the non-development budget, and prohibited official luncheons and dinners.

Under additional measures aimed at reducing energy consumption, government offices will operate four days a week with 50 percent staff working from home, while schools will remain closed for two weeks and higher education institutions will shift to online classes.

Sharif appealed to the country’s elite to come forward and support the poor during this difficult period, stressing that prosperous nations demonstrate solidarity with vulnerable segments of society during crises.

He also warned hoarders and profiteers against exploiting the situation, saying strict action would be taken against those attempting to take unfair advantage of the crisis.