Prime Minister Shehbaz Sharif has announced a “petrol relief package” ahead of Ramadan for petrol consumers, providing a significant reprieve to the people suffering from high inflation.
According to the premier, the petroleum relief program will provide low-income individuals with a rebate of Rs. 50 per liter.
The news came after the premier held a review meeting on the relief package in the Punjab provincial capital.
Pakistan is perilously near falling off a cliff as a result of its economic, and political challenges. The nation is seeing its greatest economic collapse in decades as foreign reserves dwindle and fall below the three-week threshold needed to cover imports.
He said that low-income consumers who own motorbikes, rickshaws, 800cc automobiles, and other small cars will receive petroleum assistance, adding that the program would begin shortly and that a thorough strategy would be developed with the participation of relevant agencies for its execution.
Low-income individuals frequently use motorcycles, rickshaws, and tiny cars, and the gasoline subsidy would help the underprivileged, he added. Despite its economic challenges, “the government is trying to support the underprivileged people in whatever way it can.”
Minister of State for Petroleum Musadik Malik also gave a briefing on the plan for giving low-income people in society access to petroleum subsidies.
The federal government increased the price of petrol by Rs 5 per liter last week, which infuriated people as they began projecting already high inflation in the next Ramadan month.
The loss of the Pakistani rupee versus the US dollar and an increase in prices reported by Platts Singapore were cited by the Finance Division as the causes of the price increase in its fortnightly bulletin.
While the price of kerosene oil climbed by Rs 2.56, the price of high-speed diesel was retained at Rs 13 per liter by lowering the government’s dues on it. The price of light diesel oil has also been maintained by altering government fees in a similar manner.