Pakistan PM rejects fuel price hike proposal

ISLAMABAD: Prime Minister Shehbaz Sharif said on Friday that Pakistan would keep petroleum product prices unchanged, rejecting a proposal to raise fuel rates.

In his address to the nation, the prime minister said a summary had proposed increasing petrol prices to Rs95 per litre and diesel to Rs203 per litre, but the government decided against passing on the additional burden to the public.

He said the federal government would absorb an additional Rs56 billion in costs to provide relief to the public.

Sharif said Pakistan was playing a key role on two important fronts, without elaborating, and stressed that the government was working to provide relief to citizens.

He said Pakistan was making diplomatic efforts to promote peace in the region and that its efforts were in the broader interest of the Muslim world.

He added that Deputy Prime Minister Ishaq Dar was playing a significant role in efforts toward reconciliation.

Sharif also said Field Marshal Syed Asim Munir was playing a key role, and noted that global conditions were currently facing severe challenges.

He said fuel prices had risen sharply across the world, while major economies were also facing crises.

The prime minister said the government was aware of public concerns and had taken timely measures to contain inflation.

He urged the public to support government austerity efforts, saying savings were being made to provide relief to ordinary citizens.