ISLAMABAD: The federal government announced on Tuesday that fuel prices will remain unchanged for the next two weeks, with the resulting savings to be invested in key infrastructure projects across the country.
While chairing a federal cabinet meeting in Islamabad, Prime Minister Shehbaz Sharif said that “the government has decided not to pass on the benefit of the decline in international fuel prices to the people, instead the savings will be used to rebuild and strengthen the nation.”
A major portion of the funds will go towards the dualization of the N-25 highway, a major route connecting Chaman, Quetta, Kalat, Khuzdar and Karachi. The prime minister confirmed that it will be a dual carriageway but the road will meet motorway standards.
After the cabinet decision, the price of petrol will remain at Rs254.63 per liter and the price of high-speed diesel at Rs258.64 per liter.
The Prime Minister also announced the construction of M-6 and M-9 motorways, which will connect Sukkur to Hyderabad and Hyderabad to Karachi respectively. These projects will also be financed through savings from the fall in international petroleum prices.
In addition, the same funds will support the completion of Phase 2 of the Kachhi Canal project, which aims to irrigate a vast area of agricultural land in Balochistan. The Prime Minister stressed that the project will lead to growth and development not only in Balochistan but also in the entire nation.
The Prime Minister said that the four provinces of Pakistan are like four brothers, they will share resources equally. The prosperity of Pakistan is closely linked to the prosperity of Balochistan.
During the meeting, the cabinet also approved the amendment to the Petroleum Products (Petroleum Levy) Ordinance 1961, a move aimed at increasing national revenues.
Additionally, the Cabinet endorsed the Sustainable Investment Sukuk Framework, enabling the issuance of domestic securities to support environmentally and socially responsible development projects.
