Prime Minister Shehbaz Sharif has announced to significantly reduce the prices of petroleum products today.

Speaking in the National Assembly, he said this will be the fulfillment of the promise made by his government to pass on the benefits of declining international oil prices to the public.

He noted that petroleum prices in the international market have fallen in the wake of the peace agreement between the United States US and Iran, expressing the confidence that these will further come down.

Alluding to the hike in petroleum prices after the regional tensions, the Prime Minister mentioned that the government made every possible effort to protect the people from the inflation.

In this regard, he pointed to the expenditure borne by the Federal Government to the tune of one hundred and twenty eight billion rupees.

He also expressed gratitude to the people for demonstrating patience during the difficult times.

Shehbaz Sharif said Pakistan's name is resonating across the globe with dignity and respect for the role it played in brokering peace between the US and Iran.

He said the prestige and honour, Allah Almighty bestowed upon Pakistan today, is something that nations seek for centuries.

The Prime Minister said this House should pass a unanimous resolution on this great diplomatic achievement to send a message of unity and solidarity to the world.

Shehbaz Sharif once again recognized the role played by Chief of Army Staff and Chief of Defence Forces Field Marshal Syed Asim Munir for reaching peace agreement. He also appreciated the endeavors of Deputy Prime Minister Ishaq Dar and Interior Minister Mohsin Naqvi in this regard.

Referring to his telephonic conversation with Iranian President Masoud Pezeshkian, the Prime Minister told the House that the Iranian President repeatedly thanked Pakistani nation for firmly standing by Iran in difficult times.

Shehbaz Sharif said he invited the Iranian President visit to Pakistan. He said the Pakistani nation will accord a warm welcome to the Iranian President, showcasing that they are not only neighborly, but brotherly countries. He said the hearts of the peoples of both the countries beat together.

The Prime Minister said the Iranian President also invited us to attend the funeral of late Iranian supreme leader Ayatollah Ali Khamenei. He said delegation of Pakistan will attend the funeral prayers of the late Iranian supreme leader.

The Prime Minister said both Pakistan and Iran will further strengthen their multifaceted cooperation. He was confident that there would be economic prosperity in the region following the ceasefire.