Islamabad- Prime Minister Shehbaz Sharif on Friday announced a significant reduction in fuel prices, stating that diesel prices would be cut by Rs135 per litre and petrol by Rs12 per litre.

In a televised address to the nation, the prime minister said that the new prices would take effect from 12:00am on Saturday, with diesel priced at Rs385 per litre and petrol at Rs366 per litre.

He also confirmed that the government’s targeted subsidy initiatives, introduced after the fuel crisis triggered by tensions in the Middle East, would continue and not be withdrawn.

Calling the moment “historic,” PM Shehbaz said the region was witnessing a shift from conflict to dialogue, noting that parties previously engaged in war had now agreed to resolve their differences through negotiations.

He thanked the leadership of Iran and the United States for accepting Pakistan’s proposal for a two-week ceasefire and for agreeing to visit Pakistan to hold peace talks.

“Pakistan hosting these talks is not only a matter of pride for the country but for the entire Muslim world,” he said.

The prime minister emphasized that Pakistan’s leadership played a crucial role in persuading both sides to agree to a temporary ceasefire and to come to Islamabad for dialogue.

He praised Deputy Prime Minister and Foreign Minister Ishaq Dar for his tireless diplomatic efforts, and particularly commended Field Marshal Asim Munir and his team for their “key and historic role” in easing tensions and encouraging