Prime Minister Shehbaz Sharif has announced that a significant reduction in the prices of petroleum products will be announced tonight, as the clouds of war hovering over Middle East have disappeared, reported 24NewsHD TV channel.
Speaking on the floor of the National Assembly on Friday, PM Shehbaz Sharif said the end to the US-Iran war will have a positive impact on the regional stability.
The prime minister maintained that the global oil prices were swiftly decreasing after the recent agreement between the US and Iran. “Surely, they will decline further,” he said.
Shehbaz Sharif recounted that the prices had risen sharply after the US-Israeli war on Iran began, resulting in an “storm of inflation”.
“The people of Pakistan made every humanly possible effort to save the economy. The federal government immediately spent Rs128 billion rupees to bring inflation to the lowest possible level,” he recalled.
But now, he continued, “the sun of progress and prosperity is about to rise”.
“Today, we have to announce the weekly revision of oil and petrol prices. And I will just say this much, as promised by the government to pass on the relief to the people after oil prices fall, a significant decrease in prices will be announced today,” he said.
He said this will be the fulfillment of the promise made by his government to pass on the benefits of declining international oil prices to the public.
He also expressed gratitude to the people for demonstrating patience during the difficult times.
Reporter Rozina Ali