ISLAMABAD: Prime Minister Shehbaz Sharif has announced a substantial reduction in petroleum prices, fulfilling a promise to pass on the benefits of declining international oil prices to the public. The announcement, made during a session in the National Assembly, reflects the government’s commitment to easing the financial burden on citizens.

According to Radio Pakistan, the decrease in petroleum prices is a direct result of the recent peace agreement between the United States and Iran, which has led to a fall in global oil prices. The Prime Minister expressed optimism that prices would continue to decline, bringing further relief. He emphasized the government’s efforts to shield the public from inflation during previous periods of regional tension, citing an expenditure of 128 billion rupees by the Federal Government.

Prime Minister Sharif expressed gratitude to the public for their patience during challenging times and highlighted Pakistan’s enhanced international reputation due to its role in facilitating peace between the US and Iran. He proposed that the National Assembly pass a unanimous resolution to celebrate this diplomatic success and demonstrate national unity.

The Prime Minister also recognized the contributions of key figures, including Chief of Army Staff and Chief of Defence Forces Field Marshal Syed Asim Munir, Deputy Prime Minister Ishaq Dar, and Interior Minister Mohsin Naqvi, in achieving the peace agreement. In a recent conversation with Iranian President Masoud Pezeshkian, Sharif extended an invitation for a visit to Pakistan, emphasizing the strong, brotherly ties between the two nations.

Sharif mentioned plans for further cooperation between Pakistan and Iran, expressing confidence in economic prosperity for the region following the ceasefire. Additionally, he noted that a Pakistani delegation will attend the funeral of the late Iranian supreme leader Ayatollah Ali Khamenei, highlighting the deep-rooted connections between the two countries.