- Subsidy of Rs 50 per liter to be given to poor.
- Prime Minister Shehbaz chairs a review meeting on the relief package.
- Relief will be given to motorcyclists, rickshaw and 800cc car owners.
In a major relief to the inflation-hit people, Prime Minister Shehbaz Sharif on Sunday announced a “petrol relief package” ahead of Ramadan for petrol consumers.
The premier said people belonging to the low-income sector would get a subsidy of Rs50 per liter under the oil relief package.
The announcement comes after the prime minister chaired a review meeting on the relief package in Punjab’s provincial capital.
Pakistan is teetering on a precipice, with fiscal, humanitarian and political crises bringing the country ever closer to the brink. With foreign exchange reserves plummeting to cover just three weeks of imports, the country is facing its worst economic meltdown in decades.
“Petroleum relief will be given to low-income consumers who have motorcycles, rickshaws, 800cc cars and other small cars,” he said, adding that the program would be launched soon and a comprehensive strategy would be formed in collaboration with relevant departments of effective implementation.
Motorcycles, rickshaws and small cars are used by low-income people and the kerosene subsidy would help the poor, he added. “The government is making every effort to help the poor despite its financial difficulties.”
Moreover, Oil Minister Musadik Malik briefed on the strategy to provide oil subsidy to the low income section of the society.
Last week, the federal government raised the price of gasoline by Rs 5 per litre, irking consumers as they started making estimates on already high inflation in the coming month of Ramadan.
The new prices came into effect on March 16 and will remain in place until March 31.
| Product | Prices web 01.03.2023 |
Prices web 16.03.2023 |
Increase |
| Petrol | 267 | 272 | +5 |
| High speed diesel | 280 | 293 | +13 |
| Petroleum | 187.73 | 190.29 | +2.56 |
| Light diesel oil | 184.68 | 184.68 | Zero |
The finance division, in its 14-day bulletin, attributed the price rise to the depreciation of the Pakistani rupee against the US dollar and an increase in prices recorded by Platts Singapore.
The price of high-speed diesel was increased by Rs13 per litre, while the increase in the price of kerosene oil has been kept at Rs2.56 by reducing government levies on it. Similarly, the price of light diesel oil has been kept constant by also adjusting the government taxes.
Besides, the Prime Minister has also decided to give free flour to one million residents of Islamabad during Ramadan.
While presiding over a meeting in the federal capital earlier this week to discuss considerations to curb inflationary effects on the lower and middle classes, Prime Minister Shehbaz said the government is taking measures to reduce the hardships of the poor sections of the society.