Prime Minister Shehbaz Sharif has reduced the price of petrol by Rs18.50 per litre and diesel by Rs40.54 per litre.
In his address to the nation today, the premier said that he had inherited a "troubled economy" from the Pakistan Tehreek-e-Insaf (PTI)-led government.
He said the government had increased the fuel prices after coming into power to meet the International Monetary Fund (IMF)'s conditions, which were agreed by the previous government.
Now as the prices are declining in the international market, the government has decided to pass on the relief to the public, he said, adding that the benefit of any further decline in global oil price will also be passed to the public.
He lauded Finance Minister Miftah Ismail's efforts for reviving the loan facility with the IMF and hoped that the current deal would be the last one. "After this, we will try to stand on our own feet," he said.
He added that the path ahead can be difficult but in the end, "I reassure you that good times will come soon."
Earlier, Information Minister Marriyum Aurangzeb said that PM Shehbaz Sharif will address the nation tonight at 10:10pm which will be broadcast live on Pakistan Television and Radio.
In his address to the nation today, the premier said that he had inherited a "troubled economy" from the Pakistan Tehreek-e-Insaf (PTI)-led government.
He said the government had increased the fuel prices after coming into power to meet the International Monetary Fund (IMF)'s conditions, which were agreed by the previous government.
Now as the prices are declining in the international market, the government has decided to pass on the relief to the public, he said, adding that the benefit of any further decline in global oil price will also be passed to the public.
He lauded Finance Minister Miftah Ismail's efforts for reviving the loan facility with the IMF and hoped that the current deal would be the last one. "After this, we will try to stand on our own feet," he said.
He added that the path ahead can be difficult but in the end, "I reassure you that good times will come soon."
Earlier, Information Minister Marriyum Aurangzeb said that PM Shehbaz Sharif will address the nation tonight at 10:10pm which will be broadcast live on Pakistan Television and Radio.