ISLAMABAD/LAHORE/KARACHI: Prime Minister Shehbaz Sharif Friday night announces immediate reduction of petrol price by Rs80 to Rs378 per litre.
During the national address, the prime minister that he was reducing the petrol price by Rs80 per litre. He stated that the levy on petrol has been reduced by Rs80 per litre. The new petrol price took effect from 12:00 midnight on Friday, Geo News reported.
This reduction will apply across the entire country for the next one month.
In his address to the nation, the prime minister also announced that cabinet members will deposit six months’ salary (instead of two months) into the national treasury.
Shehbaz that oil prices were touching the sky across the entire region, and new challenges were emerging for the common man.
“I know how the common man in Pakistan lives his life,” he said.
He stated that national resources were limited. Today, oil prices in global markets have seen a frightening increase. Inflation has broken the backs of even the world’s powerful economies.
He said that regarding the national consultation held on Thursday, the announcements made by the finance minister and petroleum minister were preceded by thorough consultations.
The president had invited the entire national leadership to the Presidency, where four chief ministers, the prime minister of Azad Kashmir, and the Field Marshal were also present.
He said that the war in the region should end and peace should be established as soon as possible. Small trucks will receive Rs70,000, large trucks Rs80,000, and public transport Rs100,000 in monthly subsidy.
He said that a subsidy of Rs100 per litre will be provided to support goods transport vehicles. Small farmers will receive Rs1,500 per acre in assistance. Railway economy class fares will not be increased.
The prime minister said that he wanted to thank the provincial chief ministers who committed to providing their resources without delay for this national cause.
He promised that he will not rest until the lives of the people return to normal.
It is worth recalling that on Thursday, the government had announced an increase of Rs137.24 per litre in petrol and Rs184.49 per litre in diesel. Following that, the new price of petrol was set at Rs458.41 per litre, while the new price of diesel was set at Rs520.35 per litre.
Earlier in the day, Punjab Chief Minister Maryam Nawaz Sharif has announced a major relief package across the province in response to the ongoing global economic crisis. As part of this initiative, public transport services in all cities of Punjab have been made completely free for one month. This includes the Lahore Orange Line Metro Train, Metro Bus Service, Speedo Bus and Green Electric Buses, allowing citizens to travel without purchasing tickets.
Maryam also announced financial support measures for the agriculture sector, farmers, and food security. A subsidy of Rs100 per litre of diesel per acre will be provided to farmers. Motorcycle owners will also receive relief, with a subsidy of Rs100 per litre on up to 20 litres of fuel, amounting to Rs2,000 per month for each registered bike owner.
She paid tribute to PM Shehbaz for maintaining petroleum product prices and supply for one month despite global challenges, stating that billions of rupees in relief have been provided to protect citizens from economic hardship. She emphasised that Pakistan, due to its reliance on imported oil, is more vulnerable to the effects of global conflict and economic instability.
Appealing to the public, the chief minister urged citizens to prefer public transport over private vehicles during these extraordinary circumstances. She reaffirmed the government’s commitment to easing the economic burden on the people and assured that further relief would be provided as conditions improve.
In a message on ‘X’, she also announced a major targeted monthly subsidy package. Under the initiative, registered goods transport vehicles will receive Rs70,000 per month, large vehicles Rs80,000, and public service buses Rs100,000 in subsidy.
The CM urged transporters across Pakistan, particularly in Punjab, to support the public and refrain from passing increased costs on to passengers and consumers. She emphasised that the government will closely monitor the situation and ensure effective regulation so that the relief reaches citizens in real terms.
Highlighting the broader context, she noted that rising global oil prices, ongoing international crises, and war-like conditions have made pressure on fuel prices unavoidable. She stressed that this is a time for responsibility, compassion, and solidarity, reaffirming the government’s commitment to protecting citizens from economic hardship.
Sindh Chief Minister Syed Murad Ali Shah also unveiled a comprehensive targeted subsidy package worth Rs55 billion, aimed at protecting vulnerable segments of society from rising fuel costs.
The Sindh government will have to bear a burden of Rs55 billion to fund the subsidies it has announced for the people, he said while addressing a press conference at the CM House here Friday.
Accompanied by provincial ministers Nasir Shah, Muhammad Bux Khan Mahar, Mukesh Kumwar Chawala and Karachi Mayor Murtaza Wahab, the chief minister said the evolving geopolitical situation has significantly impacted global oil prices, putting pressure on Pakistan’s economy as a fuel-importing country.
He noted that the issue was discussed in high-level meetings chaired by President Asif Ali Zardari and later by Prime Minister Shehbaz Sharif, where all provinces were taken into confidence.
“We have limited fuel and gas reserves, which are not sufficient to meet domestic needs. While global oil prices have surged, the federal government initially maintained prices, but that blanket subsidy led to increased consumption and fiscal burden,” he said.
Murad Shah said that, on the recommendation of the International Monetary Fund, the government had decided to move away from blanket subsidies to a targeted system focusing on the poorest segments.
“A one-month targeted relief regime is being finalised, with four key components jointly implemented by the federal and provincial governments,” he added.
The chief minister announced a major relief initiative for motorcycle users, describing them as one of the most affected groups.
“In Sindh alone, there are around 6.7 million registered motorcycles. Each registered bike owner will receive Rs2,000 per month, equivalent to a subsidy of Rs100 per litre for 20 litres,” he said.
To facilitate this, the Excise Department has developed a digital application through which owners can register using their CNIC and bank details.
He also announced that motorcycle ownership transfers would be made free of cost for 15 days to ensure rightful beneficiaries receive the subsidy.
“We urge citizens to register their bikes in their own names within 15 days. After that, payments will be transferred directly to verified accounts,” he added.
Highlighting support for the agriculture sector, Murad Shah said that around 336,000 small growers owning between 1 to 25 acres would receive Rs1,500 per acre.
“This subsidy is aimed at supporting diesel costs for wheat threshing. Since verified data is already available, payments will begin from next week,” he said, adding that previous subsidy programmes for fertilizers had been implemented successfully without complaints.
To prevent an increase in transport fares, the government has introduced a subsidy package for transporters. Under the scheme, passenger buses will receive Rs100,000 per vehicle, two-axle goods trucks will receive Rs70,000, and heavy goods transport vehicles will get Rs80,000. Murad Shah said that Sindh had over 27,000 buses and additional support would be provided to intra-city buses due to higher fuel consumption.
“City buses consume around 40 litres daily, and with diesel prices rising sharply, we will provide an additional Rs140,000 to ensure fares are not increased,” he said.
He said that transporters would be required to give an undertaking not to raise fares, while the Transport Department was in talks with stakeholders to ensure compliance.
“This intervention is aimed at controlling inflation and protecting commuters,” he emphasised.
In response to a question, the chief minister told the media that the government was considering a proposal to determine the market closing time.
To a question, the chief minister said that the Sindh government purchased wheat two years ago, and we had stocks from both years.
When the government did not procure wheat last year, growers suffered losses. The purpose of purchasing wheat is to stabilise the market by acting as an intervenor.
“The government bears the loss under the head of wheat procurement solely to provide atta to the public at a reasonable rate. Therefore, we have decided to procure wheat this year to stabilise prices, support growers, and, above all, avoid importing wheat.”
Murad Shah reiterated that the government was committed to shielding the most vulnerable segments from economic shocks.
“Our priority is to provide targeted relief where it is needed most, while maintaining fiscal responsibility. These measures will ensure that the common man is protected during this challenging time,” he added.
Meanwhile, the federal government has suspended the proposed quarterly increase in toll plaza fees on the prime minister’s directives.
Federal Minister for Communications Abdul Aleem Khan directed the National Highway Authority (NHA) to withdraw its notification issued on April 1 and halt the increase that was scheduled to take effect from April 5, said a press release issued on Friday.
Following the minister’s instructions, a fresh notification has been issued formally cancelling the earlier decision.
Also on the PM’s directive all public transport in Islamabad has been made free for citizens.
Interior Minister Mohsin Naqvi in a post on ‘X’ announced that the free transport service will start from April 4 (today) and will continue for the next 30 days.
He said residents of the federal capital will be able to travel on government buses without any fare for a month, adding that the Ministry of Interior will bear expenses of Rs350 million for this public relief initiative.
Meanwhile, Finance Ministry Advisor Khurram Schehzad has stated that not all motorcyclists are eligible for the government s fuel subsidy, adding that those who own heavy bikes can manage petrol costs themselves.
Schehzad said provincial governments possess detailed data on the number of motorcycles in each region and had themselves proposed that subsidies could be provided only to eligible riders.
He added that it can be verified through an app whether a motorcyclist is registered for the subsidy with BIS data available to determine eligibility and entitlement. Meanwhile, jet fuel price increased by Rs40 per litre, Geo News reported. According to aviation sources, the price of jet fuel for commercial flights has been increased for the sixth time in one month. Sources say that the new price of jet fuel in the country has reached Rs517.17 per litre. From March 1 until now, the price of jet fuel has seen a massive increase of Rs329.17.
Meanwhile, Pakistan Goods Alliance condemned increase in petroleum product prices, announcing a 60 percent freight hike President of the Pakistan Goods Alliance, Malik Shahzad, said that they condemn the increase in petroleum product prices, warning that it will unleash a wave of inflation across the country.
