ISLAMABAD (Kashmir English): Prime Minister Shehbaz Sharif on Friday announced a reduction in diesel and petrol prices, starting from tonight.
Addressing the nation, PM Shehbaz said that petrol price has been reduced by Rs 12 per liter, fixing the new price at Rs 366.41 per liter.
The diesel price has been lowered by Rs 135, setting the new rates at Rs 385.35 per liter. “New prices of petroleum products will be applicable from 12 midnight tonight,” he said.
In his address, the premier said I was advised that the full benefit of the reduction in the price of petrol should not be passed on to the public.
“The reduction in the prices of petroleum products should be used to replenish the treasury, which I rejected and announced a reduction in the prices,” he added.
He reiterated that providing relief to farmers and reducing input costs remained a key priority of his government, particularly at a time when agricultural productivity and affordability were under pressure.
In this regard, the Petroleum Division issued a notification, stating the reduction of petrol prices by Rs11.83 and diesel by Rs134.81 per litre, setting new rates at Rs366.58 and Rs385.54, respectively.
The price of kerosene has been reduced by Rs17.33 per litre to Rs450.15, while light diesel oil has been cut by Rs25.31 to Rs369.72.
‘Hosting Iran-US peace talks matter of pride’
In his address, Shehbaz Sharif termed the hosting of Iran-US peace talks in Islamabad as a matter of immense pride for the country. He expressed hope that the talks would help establish sustainable peace in the region.
The Prime Minister also lauded the efforts of Deputy Prime Minister Ishaq Dar and Chief of Army Staff and Chief of Defence Forces, Field Marshal Syed Asim Munir, in securing a ceasefire between Iran and the United States, bringing both sides to the negotiating table.
He said the leadership of both countries is meeting in Islamabad on Saturday, and Pakistan will make its sincere efforts for the success of these talks. He also appealed to the nation to pray for the success of the dialogue.
