ISLAMABAD: Prime Minister Shehbaz Sharif has said that peace in the Middle East was made possible through Pakistan’s mediation efforts during a period of heightened regional tensions.
In a statement, the prime minister said that a memorandum of understanding signed in Islamabad marked a “historic document,” adding that it reflected Pakistan’s constructive diplomatic role in promoting stability in the region.
He said that Pakistan had been “honoured by Almighty Allah” through its contribution to peace efforts, and expressed gratitude for what he described as the country’s elevated international standing.
PM Shehbaz particularly praised Field Marshal Syed Asim Munir, stating that his “relentless efforts and professional capabilities” played a key role in facilitating the peace agreement.
He also commended Deputy Prime Minister and Foreign Minister Ishaq Dar, Interior Minister Mohsin Naqvi, and other members of the government team involved in diplomatic efforts, acknowledging their “sincere and dedicated” work.
The prime minister further lauded the country’s economic team, including Finance Minister Muhammad Aurangzeb, Planning Minister Ahsan Iqbal, Economic Affairs Minister Ahad Khan Cheema, Petroleum Minister Ali Pervaiz Malik, along with senior officials of the Finance Ministry, Petroleum Division, and the Federal Board of Revenue, for their role in managing economic challenges.
He said the government remained committed to ensuring economic stability, continuing reforms, and strengthening Pakistan’s role in regional diplomacy.
Big Relief for Citizens: PM Shehbaz Announces Major Cut in Petrol and Diesel Prices
Earlier, Prime Minister Shehbaz Sharif has announced a significant reduction in petroleum product prices on Friday, stating that improved regional economic conditions and lower global oil prices are being passed directly on to the public.
According to the announcement, petrol prices have been reduced by Rs74 per litre, bringing the price down from Rs373 to Rs299. Diesel prices have been cut by Rs67 per litre, reducing the rate from Rs378 to Rs311.
The prime minister said the government was fulfilling its commitment to provide relief to the public. “The benefit of reduced oil prices in the global market is being transferred directly to the people,” he said.
He added that the government had worked to shield citizens from global inflation and economic volatility through fiscal adjustments and austerity measures. According to him, Rs129 billion was utilized through savings and development budget adjustments to provide fuel relief and prevent a sharp burden on consumers.
PM Shehbaz noted that despite challenging global conditions, Pakistan did not face fuel shortages or rationing, and supply chains remained stable. He credited coordinated efforts between the federal and provincial governments for maintaining economic stability.
PM also expressed gratitude to provincial chief ministers for their cooperation during the period of economic pressure.
Referring to broader regional developments, the prime minister said Pakistan’s diplomatic engagement and mediation efforts contributed to improved regional stability, which he linked to positive economic outcomes, including easing energy pressures.
He praised the contributions of the country’s civil and military leadership, including senior officials involved in diplomatic and economic management, for their role in supporting both stability and policy execution.
The government reiterated that further relief measures will be considered in line with international oil market trends, with a focus on maintaining macroeconomic stability while easing pressure on consumers.
Officials said a formal notification regarding the revised fuel prices will be issued by the relevant authorities.
