Pakistan Reduces Petrol Prices by ₹80 Amid Economic Pressure
Pakistan cuts petrol prices by 80 rupees per litre amid Israel-Iran war
The Economic TimesImage: The Economic Times
Pakistan has announced a reduction in petrol prices by ₹80 per litre, bringing the new price to ₹378. This decision follows public protests against a recent price hike and aims to alleviate economic pressure amid rising global oil prices due to the ongoing conflict in the Middle East.
- 01Petrol prices in Pakistan cut by ₹80 to ₹378 per litre.
- 02The reduction follows public protests against a recent price hike to ₹485.
- 03Diesel prices remain unchanged at ₹520 per litre.
- 04Public transport in Islamabad will be free for one month.
- 05Government implementing various measures to alleviate economic burdens.
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In a significant move, Pakistan's Prime Minister Shehbaz Sharif announced a reduction in petrol prices by ₹80, lowering the cost to ₹378 per litre. This decision comes after widespread protests against a 42.7% price hike that raised petrol prices to ₹485. The government has decided to maintain diesel prices at ₹520 per litre following a 54.9% increase. To further support citizens, public transport in Islamabad will be free for the next 30 days, costing the government ₹350 million. The Pakistani government is also implementing several measures to save fuel, including a four-day workweek for government offices and extended school holidays. Amid rising global oil prices linked to the conflict in the Middle East, the International Monetary Fund (IMF) has warned that economies like Pakistan are facing significant pressures. The government aims to relieve the economic burden on citizens while ensuring stability in fuel pricing.
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The petrol price reduction aims to provide immediate relief to consumers facing economic hardships due to rising fuel costs. The free public transport initiative will help commuters save money during this challenging period.
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