Islamabad: Prime Minister Muhammad Shehbaz Sharif has announced a significant reduction in the petroleum levy, lowering the petrol price by eighty rupees per liter. The new price will be 378 rupees per liter, down from the previous 458 rupees per liter, effective for the next month.

According to Radio Pakistan, in his address to the nation, the Prime Minister emphasized the impact of the ongoing Middle East conflict on global oil prices, which has also affected Pakistan. He announced that members of the Federal Cabinet will forego their salaries for six months, instead of the previously planned two months, with the funds being directed to the national exchequer.

The Prime Minister outlined the government’s efforts to alleviate the pressure on the public, including spending 129 billion rupees from national resources over the past three weeks to absorb the impact of rising international oil prices. Shehbaz Sharif announced a comprehensive subsidy program targeting motorbike owners, small and large truck operators, and passenger buses. The measures will extend to Azad Jammu and Kashmir and Gilgit-Baltistan, with support from the federal government.

Railway fares for the economy class will remain unchanged, and the Prime Minister expressed gratitude to regional leaders for their support. He stressed the importance of national unity in overcoming the current challenges and pledged the government’s commitment to restoring normalcy in Pakistan.