LAHORE MIRROR — Federal Minister for Petroleum Ali Pervaiz Malik has said oil refineries have agreed to bear the additional burden to help the government maintain petrol prices and provide relief to consumers.
He said the government had requested local refineries to absorb the expected Rs15 per litre increase in petrol prices instead of passing it on to the public. He thanked the refineries for supporting the government in this difficult time.
Addressing a news conference, the minister for Petroleum said the government is committed to protecting consumers from the impact of rising international oil prices.
He added that the government would move towards deregulation of the petroleum sector as soon as market conditions return to normal.
Minister for Information and Broadcasting Attaullah Tarar said petrol prices were set to increase by 15 rupees per litre on Friday, but at the Prime Minister’s instruction, the additional burden was shifted to refineries.
Attaullah Tarar said it has been the vision of Prime Minister Shehbaz Sharif to minimise the burden of rising petroleum prices on the public.
He said Pakistan’s economy, like economies across the world, had been affected by the prevailing regional situation, particularly developments around the Bab al-Mandab and the Strait of Hormuz. However, Pakistan’s macroeconomic indicators remained stable due to the Prime Minister’s special efforts.
Talking about the Prime Minister’s Fuel Relief Scheme, the Information Minister said over 15 million people have registered under the initiative, while relief worth 27 billion rupees has so far been provided in this regard.
He termed the large number of registrations and the provision of petroleum products at subsidised rates a major indication of the scheme’s success.
The Information Minister said consumers using motorcycles, Qingqi rickshaws and vehicles up to 800cc can obtain fuel at subsidised rates under the scheme.
