Web Desk: Prime Minister Shehbaz Sharif has decided not to increase petroleum prices despite the recent rise in global oil prices. The decision follows his commitment to provide relief to the public during difficult economic conditions.
In a statement issued after receiving the weekly summary on petroleum prices the prime minister said that oil prices have increased in the international market. However the government has chosen not to pass this burden to ordinary citizens at this time.
He said the government will continue efforts to provide as much relief as possible to the people. He explained that rising tensions in the region have placed pressure on the global economy which may also impact the economy of Pakistan.
The prime minister added that timely policy decisions government savings measures and strong financial discipline are helping the country manage the situation in the best possible way. He said the government aims to reduce the burden on poor citizens and that reforms will begin with the elite and government institutions.
He also noted that provincial governments are cooperating with the federal government in implementing cost saving measures which is a positive sign. He said that due to the efforts of the diplomatic and economic teams the country currently has a sufficient supply of crude oil to meet national needs.
According to the prime minister the federal and provincial governments are working together to ensure that no seller charges more than the official price set by the government. He also expressed hope that global conditions will improve and that petroleum prices in international markets will stabilize.
