Prime Minister Shehbaz Sharif has announced a major reduction in petrol prices by Rs80 per litre, bringing the new rate down to Rs378 per litre as part of a broader relief package for citizens.
The decision comes amid ongoing economic pressure caused by rising global oil prices, with the government aiming to ease the burden on the public. Officials said the reduction was made possible through a cut in the petroleum levy, forming part of a wider strategy to provide financial relief.
In addition to the price cut, the government announced targeted subsidies for key segments, including motorcyclists, transporters, and public transport services, to help control fares and reduce commuting costs.
Authorities also highlighted that billions of rupees in subsidies have already been provided in recent weeks to cushion the impact of volatile global energy markets on consumers.