He said the federal government has decided to absorb an additional burden of Rs56 billion this week.

According to sources in the Ministry of Finance, it has been proposed that petrol prices be reduced by Rs 10.60 per liter from January 1.

These revised fuel prices have come into effect nationwide, reflecting recent movements in global energy markets.

Diesel price also expected to rise

Petrol and HSD prices in the global market declined by $1.5 and $2.5 per barrel