Prime Minister Shehbaz Sharif said on Friday that the government would pass on the benefit of falling international oil prices to the public and announce a significant cut in petroleum prices later in the day.

Addressing the National Assembly, the prime minister said global oil prices were on the decline and the government would honour its commitment to provide relief to consumers.

He said the recent ceasefire had improved the regional outlook and would support economic stability and prosperity. According to the prime minister, the drop in international oil prices showed that the uncertainty created by the recent crisis was beginning to ease.

Shehbaz Sharif said the government had pledged to transfer the benefit of any reduction in global oil prices directly to the people and reiterated that a major cut in petrol prices would be announced later on Friday.

The prime minister also highlighted the government’s handling of fuel supplies during the recent tensions, saying Pakistan had avoided any major disruption despite concerns over regional instability.

He said there were no long queues at petrol stations and no fuel shortage emerged during the period, adding that the situation remained under control due to effective planning and coordination.