The Pakistan Goods Transport Alliance announced a 40 percent reduction in freight fares after the government confirmed petroleum product price cuts effective from midnight.
PGTA President Malik Shahzad Awan welcomed the decision, confirming the fare reduction and urging authorities to provide relief on toll taxes and withholding taxes.
Prime Minister Shehbaz Sharif announced petrol price reduction of Rs11.83 per litre to Rs366.58, alongside diesel price cut of Rs134.81 per litre to Rs385.54.
Officials confirmed revised fuel prices will take effect from midnight, following directives to align domestic rates with global market trends and ease inflationary pressure.
Earlier, the government had raised petrol price by Rs138 to Rs458.40 and diesel by Rs184 to Rs520.35 after global petroleum shortages.
A day later, Prime Minister Shehbaz Sharif announced short-term relief, revising petrol price to Rs378 per litre by slashing Rs80 amid ongoing economic pressure.
The Prime Minister also introduced austerity measures, suspending cabinet salaries and privileges for six months to manage financial pressures and demonstrate fiscal discipline.
