Pakistan cuts petrol prices after public backlash. Prime Minister Shehbaz Sharif announced an 80 rupee per liter reduction, bringing petrol prices down to 378 rupees following a controversial 42.7 percent hike the previous day. The cut, funded through reduced petroleum levies, will remain in effect for at least one month. The government also implemented relief measures including free public transport in Islamabad for thirty days and targeted subsidies for buses and motorcycles. Diesel prices remain unchanged at 520 rupees per liter. The price volatility reflects broader regional energy concerns stemming from Middle East tensions affecting global oil markets and supply routes through the Strait of Hormuz. Pakistan's vulnerable economy faces pressure from both elevated energy costs and IMF conditions, prompting the government to balance fiscal constraints with public demands for relief.
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