ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday announced that Rs300 billion saved over the past two years from global oil price reductions will now be allocated to development projects in Balochistan.
Speaking during a federal cabinet meeting, he said that the funds – originally saved by not transferring the benefits of falling international petroleum prices to consumers – will now be used to upgrade the strategic N-25 highway, which connects Chaman, Quetta, Kalat, Khuzdar, and Karachi.
The highway will be expanded into a dual carriageway built to motorway standards, he said, adding this initiative will improve connectivity for the people of Balochistan and help address longstanding grievances of neglect.
Balochistan’s development top priority, CM told
He also said that additional funding will go towards the second phase of the Kachhi Canal project, aimed at irrigating vast tracts of agricultural land in the province. He described the move as a step towards regional prosperity and national growth.
Balochistan Chief Minister Sarfaraz Bugti, who attended the cabinet meeting on the special invitation of the prime minister, welcomed the announcement, thanking the federal government for prioritising the province’s development. Meanwhile, the Prime Minister said that the prices of petroleum products would be lowered from tonight (Wednesday), following a drop in global oil prices.
On the international front, the prime minister condemned the recent killing of eight Pakistani nationals in Iran, calling the incident deeply tragic and beyond adequate condemnation.
He said Foreign Minister Ishaq Dar had spoken with his Iranian counterpart regarding the matter and expressed hope that the perpetrators would be apprehended and brought to justice by Iranian authorities.
The cabinet also approved several legislative and financial measures, including an amendment to the Petroleum Products (Development Surcharge) Ordinance, 1961. The change is expected to enhance national revenue.
A Sustainable Investment Sukuk Framework was also given the green light. Proposed by the Ministry of Finance, the framework will support the issuance of domestic securities to fund environmentally sustainable and renewable energy projects.
The cabinet approved a draft bill to establish the National Agri-Trade and Food Safety Authority. The proposed legislation will now be forwarded to parliament for consideration.
Copyright Business Recorder, 2025
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