ISLAMABAD (Kashmir English): Prime Minister Shehbaz Sharif has rejected the summary for increase in petroleum product prices to keep prices unchanged.
In his address to the nation on Saturday night, Prime Minister Shehbaz Sharif announced to maintain the prices of petrol and diesel.
He also extended Eid greeting to the nation, saying, “I extend heartfelt Eid-ul-Fitr greetings to everyone. Eid demands national unity and collective responsibility. The joys of Eid are complete only when shared with those around us.”
Prime Minister Shehbaz Sharif said, “Today the world is facing an extraordinary situation. The ongoing war in our region has shaken the global economy and peace and stability. Attacks on energy installations of brotherly countries in the region have exacerbated the crisis.”
Current petroleum prices
He said that there is a fear that this crisis may further escalate. “Currently, the prices of Gulf oil in the international market are skyrocketing. The oil that was 72 dollars per barrel a few weeks ago has now reached 158 dollars per barrel. A storm of inflation is emerging in recent history.”
He said at the beginning of March, an increase of Rs55 per litre in oil prices put a heavy burden on the public adding the proposal to increase the price of petrol and diesel has been rejected.
“I was proposed an increase of Rs50 per litre for petrol and Rs74 per litre for diesel. Under such circumstances, further increases would severely impact the lives of ordinary people.”
“This is not a long-term solution. As far as possible, we are bearing this burden ourselves.”
The Prime Minister stated that over the past two weeks, the federal government has prevented an increase of Rs127 per litre in petrol prices.
The PM also urged the nation to adopt austerity in daily lives. “Along with the government, the elite also have a responsibility to fulfill their duty.”
