PM announces sharp cut in petrol price to Rs 378/ liter

ISLAMABAD, Apr 04 : Prime Minister Muhammad Shehbaz Sharif on Friday announced a major relief package for the masses, slashing the price of petrol by Rs 80 per liter, bringing it down to Rs 378 per liter from Rs 458 and targeted subsidies for the bikers, cargo vehicles as well as the passenger buses.

In a televised address to the nation, the prime minister said that the new reduced petrol price will remain unchanged for the next one month and will be made possible by curtailing the petrol levy by Rs 80.

He said the federal and provincial governments would work together to mobilize maximum resources to support the public amid economic challenges, particularly those arising from the ongoing conflict in the Middle East.

He also announced a targeted subsidies for the transport sector, including Rs 100 per liter for motorbike owners and goods and public transport vehicles. Rs 70,000 per month subsidy will be given for small trucks, Rs 80,000 for larger trucks and Rs 100,000 for passenger buses.

Additionally, as a gesture of austerity and solidarity with the public, Prime Minister Shehbaz Sharif announced that all federal cabinet members will surrender their salaries for the next six months -to help generate funds for public relief measures.