Petrol has been increased by Rs 137 per liter and diesel by Rs 184 per liter due to an extraordinary surge in global crude oil prices, making this step unavoidable.
Minister of Petroleum Ali Parvez Malik stated that the government has been absorbing an additional burden of approximately Rs 260 billion per month to provide relief to the public, which has become unsustainable due to the massive rise in international fuel prices.
Ali Parvez Malik further clarifed that the ongoing war has caused a massive surge in energy prices. He said the government is taking difficult but responsible decisions, noting record increases in crude oil prices. The Prime Minister has also cut cabinet members’ salaries through a frugality campaign.
He assured the bublic that this increase mainly affects the affluent segment, while low-income individuals will continue to receive relief. General subsidies are being ended, and support will now be given only to those who truly deserve it.
Therefore, subsidies will be provided to goods transporters delivering food items, public transport, small farmers up to 25 acres, and motorcyclists—this is considered the best decision.
Besides, fuel prices will be reviewed weekly, and as soon as the global situation improves, reductions will be made.
He urged the public that the current situation requires us to adopt fuel-saving measures individually and collectively. These are extraordinary times, and we must show national responsibility to navigate this difficult period.
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