Govt Freezes Oil Prices for a Week

Prime Minister Shehbaz Sharif rejected a major proposed increase in petroleum prices to ease inflation and reduce financial pressure on citizens.

The proposal suggested raising petrol prices by PKR 76 and diesel by PKR 177 for the upcoming week.

The government decided to keep fuel prices unchanged for the second consecutive week.
4. To maintain prices, the government is cutting development expenditure and providing a subsidy of PKR 45 billion.

Over the past two weeks, the government has absorbed a total burden of PKR 69 billion to avoid price hikes.

Read More: Govt Raises Petrol, Diesel Prices by Rs55

Overall, the government has prevented cumulative increases of PKR 126 (petrol) and PKR 251 (diesel), including PKR 24 billion paid last week as a price differential claim to oil marketing companies.