After hiking petrol prices, govt announces relief package for low-income families:
Prime Minister Shehbaz Sharif announced that the government would subsidise Rs50 per litre to low-income segments under the petroleum relief package.
The government had recently raised the prices of all petroleum products, except for little light diesel oil, by up to Rs13 per litre for the next fortnight.
The finance ministry attributed the increase to the rise in Platts Singapore prices and the rupee depreciation over the previous fortnight.
As a result of the latest review, high-speed diesel (HSD) prices reached a new record of Rs293 per litre, directly impacting consumer prices due to increased transport costs.
The government raised the per-litre price of petrol by Rs5 and HSD by Rs13.
Since January 15, the prices of HSD and petrol have been raised by Rs65 and Rs62 per litre, respectively.
During a meeting in Lahore on Sunday, PM Shehbaz announced that the petroleum relief would benefit low-income consumers who own motorcycles, rickshaws, 800cc cars, and other small vehicles.
The prime minister stated that the petroleum subsidy program would commence soon and relevant departments would collaborate to develop a comprehensive strategy for its efficient execution.
He emphasized that low-income segments use motorcycles, rickshaws, and small cars, and the subsidy would provide relief to them.
PM Shehbaz added that despite the government’s economic difficulties, it is striving to assist the poor.
Minister of State for Petroleum, Musadik Malik, briefed the meeting on the strategy for providing the petroleum subsidy.
Moreover, Finance Minister Ishaq Dar, Adviser to PM Ahad Cheema, Special Assistant to PM Tariq Bajwa, finance and petroleum secretaries, and other high-ranking officials were present at the meeting.
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