Following massive public outrage across Pakistan over a sharp hike in fuel prices, the government has announced a significant reduction in petrol prices.
Prime Minister Shehbaz Sharif stated that the government has decided to cut the tax on petrol by 80 Pakistani Rupees per litre. As a result, the price of petrol will now be available at Rs 378 per litre for consumers.
The revised price will come into effect from midnight and will be applicable at all petrol stations across the country. The Prime Minister assured that this reduction will remain in place for at least one month.plain Shining Glass bangles Set For Women And Girls pack of 24 (Size 2.4,2.6,2.8,2.10,And 2.12 Avaiables)
I will not rest until the lives of the people become easier, Shehbaz Sharif said.Just a day earlier on Thursday, the government had significantly increased petrol and diesel prices.
The tax on petrol was hiked from Rs 105 to Rs 160 per litre, pushing the petrol price from Rs 321 to Rs 458. Diesel prices were also increased by Rs 184.49 per litre, reaching nearly Rs 520 after adjustments.Congress Government is Doing Daylight Robbery: CT Ravi's Sharp Criticism..!
The government had attributed the price hike to rising international petroleum prices caused by the tense situation in the Gulf region, particularly the Israel-Iran conflict and its impact on the Strait of Hormuz.
Experts warned that the sudden hike would severely affect Pakistan’s economy, leading to further increases in transportation, food, and electricity costs. Easter Escalation: Russia Rejects Truce with Massive Daytime Salvo; 14 Dead as Over 500 Drones Target Kyiv and Sumy
The move triggered widespread protests and strong public opposition across the country. In response to the backlash, the government quickly reversed its decision partially by slashing petrol prices.
This reduction is expected to ease the economic burden on common citizens to some extent.However, there has been no change in diesel prices yet.Relief for the Common Man: Pakistan Cuts Petroleum Levy to Counter Record Hikes as Global Crude Hits $150 Per Barrel."
Fuel price fluctuations are common in Pakistan, but this recent hike was one of the sharpest in recent times. Meanwhile, the Islamabad administration has announced free public transport for one month to provide additional relief to the people.