Prime Minister Shehbaz Sharif has decided not to increase petroleum product prices, citing the need to reduce the financial burden on ordinary citizens amid rising regional tensions and global economic pressure.

In a statement issued by the Prime Minister’s Office, the premier said the government had opted against raising fuel prices to provide relief to the public during difficult economic conditions.

“As promised, we will deliver as much relief as possible to the people despite these challenging circumstances,” PM Shehbaz said.

He noted that heightened tensions in the region were putting pressure on the global economy, raising concerns about potential spillover effects on Pakistan’s economy.

However, he said the government was attempting to manage the situation through timely policy decisions, fiscal discipline and cost-saving measures.

PM Shehbaz added that the government had begun austerity efforts from within the ruling structure and the country’s elite in order to reduce the burden on lower-income groups.

He also said both federal and provincial governments were working together to enforce the officially notified fuel prices and prevent retailers from charging higher rates.

According to the statement, Pakistan currently has adequate crude oil supplies to meet domestic demand, thanks to efforts by the government’s diplomatic and economic teams.

The prime minister also expressed hope that global conditions would stabilise and that international petroleum prices would eventually return to a more stable level.

Earlier reports had suggested a sharp increase in fuel prices for the coming week, with petrol expected to rise by up to Rs51 per litre and high-speed diesel by as much as Rs81 per litre.

Officials had said the Oil and Gas Regulatory Authority was preparing to send a summary of revised petroleum prices to the government based on fluctuations in international oil markets before the latest decision was announced.