Despite a decline in global oil prices, the federal government has decided not to reduce domestic oil prices and instead choose to allocate the savings for key infrastructure and development projects in Balochistan, according to a statement from the Prime Minister’s Office (PMO) on Tuesday.

Prime Minister Shehbaz Sharif announced during a federal cabinet meeting that the funds saved from the global oil price dip would be used to dualize the strategic N-25-Motorvej-Chaman-Quetta-Kalat-Khuzdar-Karachi route. “The initiative aims to provide better travel facilities to the people of Balochistan,” the statement says.

The Prime Minister instructed the restoration and expansion of the highway to be carried out to meet full highway standards. In addition, part of the funds will be allocated to complete phase 2 of the Kachhi channel, which is expected to irritate hundreds of hectares of agricultural land in Balochistan.

Balochistan Chief Minister Sarfaraz Bugti, who attended the cabinet meeting, expressed his gratitude to Prime Minister Sharif to prioritize developments in the province, especially the N-25 project and other long-awaited infrastructure efforts.

Meanwhile, the cabinet also approved a change of Petroleum Products (Petroleum Levy) Regulation, 1961, as recommended by Petroleum Division. PMO said the amendment is expected to help increase national revenue.

The decision comes as global oil markets face instability. Brent -raw oil dropped 54 cents to $ 64.34 per day. Barrel, while US West Texas intermediate dropped 57 cents to $ 60.96, in the midst of lowered demand forecasts from both OPEC and International Energy Agency (IEA), largely due to escalating merchant voltage and swinging US customs policies.

In its last price report, the government had marginally reduced gasoline prices by RE1 per year. Liters, fixing them to RS254.63 while holding high -speed diesel (HSD) to RS258.64 per year. Liters through April 15 according to the Financial Division’s notification.