ISLAMABAD (Kashmir English): Prime Minister Shehbaz Sharif on Friday announced the reduction in petrol levy by Rs80, bringing the price to Rs378 per litre for one month, along with other initiatives amid the rising fuel crisis.
The development came a day after the government announced the historic increase in prices of petroleum products. The price of petrol was hiked to Rs458.40 per litre and high-speed diesel to Rs520.35 per litre
Addressing the nation, Prime Minister Shahbaz said the new petrol price will take effect from tonight. This reduction will apply to the whole of Pakistan for the next month, he said.
The premier further announced that the salaries of federal cabinet members for 6 months will be deposited in the government treasury.
In a televised address to the nation, the prime minister said that the new reduced petrol price will remain unchanged for the next one month and will be made possible by curtailing the petrol levy by Rs 80.
He said the federal and provincial governments would work together to mobilize maximum resources to support the public amid economic challenges, particularly those arising from the ongoing conflict in the Middle East.
He also announced a targeted subsidies for the transport sector, including Rs 100 per liter for motorbike owners and goods and public transport vehicles. Rs 70,000 per month subsidy will be given for small trucks, Rs 80,000 for larger trucks and Rs 100,000 for passenger buses.
