PM Shehbaz again rejects recommendation for increasing petrol, diesel prices

He made the announcement during an address to the nation, saying that he had received a summary to increase the price of petrol by Rs95 per litre and that of HSD by Rs203 per litre.

“However, I have rejected this summary,” he said.

The premier began his address by speaking about the ongoing war in the Middle East, saying that the government was trying its best to cushion the effects of the skyrocketing prices of oil while also making efforts for the restoration of peace in the region through diplomacy.

“Pakistan is making sincere and full-fledged mediatory efforts on the diplomatic front for an end to this war, so that the region and brotherly Muslim countries no longer face the destructive and negative consequences of this war,” he said. The PM further said the purpose of these efforts was to pave the way for lasting peace through “collective wisdom and consultation”.

“Pakistan’s diplomatic efforts are not merely an international diplomatic responsibility, but they are also purely for the will of Gold and the benefit of ummah,” he said.

PM Shehbaz said irrespective of “which school of thought sect we belong to, as Muslims, we all wish for peace”.

In this context, he continued, he had detailed discussions with the heads of Iran and Gulf countries multiple times. Moreover, Deputy Prime Minister and Foreign Ishaq Dar had also been working for the restoration of peace while Chief of Defence Forces and Chief of Army Staff Field Marshal Asim Munir was playing an “active and key role” for the success of this process of rapprochement, he added.

“I appeal to you to pray for the fruition of these efforts,” the PM said.

He said the world was currently facing an “extraordinary and extremely challenging situation”, in which even big economies were helpless.

“Even developed countries, which have resources in abundance, are facing an extreme economic crisis,” he said, adding that the potential impact of this economic crisis was not difficult to assess.

But, he said, “we had been preparing beforehand to deal with this storm. We immediately took decisions that were not easy to take”.

The premier said a cut of Rs100 billion in the development budget and austerity measures had allowed the government to reduce the economic burden on the people.

“It must be clear to you that today that every litre of petrol that is filled in your vehicle reflects the government’s policy of austerity and its realisation of responsibility,” he said.

PM Shehbaz said it had been recommended to him to approve an increase of Rs95 per litre in the price of petrol and Rs203 per litre in the price of HSD for the week starting today.

“But, I rejected it once again, considering difficulties, and the federal government has once again decided to bear this burden,” he said. The premier reiterated that the federal government would bear the burden of Rs56bn this week so that the people did not have to bear it.

He said that keeping in view the fuel prices in the international market, the price of petrol in Pakistan should presently be Rs544 per litre. “But you are getting it for just Rs322,” he said.

Similarly, he said, the price of HSD should have been Rs790 per litre, “but the government is providing it to you for just Rs335 per litre so that your burden and difficulties don’t increase”.

He said these figures may seem mere numbers, “but the government has borne the historic burden of Rs125bn over a period of three weeks so that you don’t have to bear it”.

PM Shehbaz said this amount could have been utilised for several development projects. “But at this point, nothing is more important to me than your economic security,” he said.