Prime Minister Shehbaz Sharif on Friday confirmed that petroleum product prices will remain unchanged this week despite global oil markets showing significant upward pressure.
According to the Prime Minister’s Office, Shehbaz said the decision was taken to ease the financial burden on ordinary citizens while fulfilling his promise to provide maximum possible relief.
The premier highlighted that regional tensions are placing pressure on the global economy, which is likely to have a significant impact on Pakistan’s economic stability and domestic markets.
He added that timely policy-making, austerity measures, and strict financial discipline by the government were helping manage the situation effectively and ensuring uninterrupted availability of essential fuel supplies.
Shehbaz welcomed the support of provincial governments in implementing austerity measures, emphasizing that joint federal and provincial cooperation was vital to mitigate economic challenges during this period of uncertainty.
The prime minister further stated that diplomatic and economic teams had successfully secured adequate crude oil supplies, ensuring the country’s energy requirements were met without causing immediate price fluctuations for consumers.
He confirmed that both federal and provincial authorities were working to prevent charging consumers above government-set fuel prices, while expressing hope that global conditions would improve and prices would stabilize soon.
This development comes a week after the government increased petrol and diesel prices following disruptions caused by the war in Iran, which significantly affected international oil supply chains and local fuel markets.
Originally scheduled for March 15, the next petrol price review could be brought forward, according to ministers, following consultations between federal, provincial, and military leadership to assess the situation.
Sources said Shehbaz informed a consultative session, attended by federal and provincial representatives including Chief of Defence Staff Field Marshal Asim Munir, that no further price hike would be imposed in the near future.
He added that block allocations would be used for emergencies to absorb additional price shocks, noting that no other emergency could surpass the current fuel supply disruptions affecting the nation.
