ISLAMABAD – Petroleum Minister Ali Pervaiz Malik has said that petrol could become cheaper by up to Rs15 per litre under a new formula.
Addressing a press conference in Islamabad alongside Federal Information Minister Attaullah Tarar, Malik said that providing relief to the public is the prime minister’s priority. He said a meeting with oil refineries will be held tomorrow to discuss all matters, and that with the refineries’ cooperation, the government will be able to provide petrol Rs15 per litre cheaper to the public.
Information Minister Tarar said that on the prime minister’s strict instructions, a Rs15 per litre increase in the price was not allowed to go through. He said that, along with rising energy prices in global markets, insurance, logistics and transport costs have also increased, and that this has affected Pakistan’s economy.
Malik said that despite rising global prices and the regional situation, the government is taking steps to provide relief to the public. He said that, with this aim, the government launched a fuel subsidy scheme from which more than 13 million consumers are benefiting.
He said premiums on PSO tenders have increased, while refineries have earned profits over the past three months greater than anything they had earned in years. The petroleum minister said refineries were asked to cooperate in giving relief to the public in difficult times. A Rs15 per litre increase in the petrol price had been expected on Friday, but prices were kept unchanged with the refineries’ cooperation.
Malik said that, with the refineries’ help, the public will be able to get petrol Rs15 per litre cheaper, and that some relief in petrol prices will come today as well. He expressed hope that the Iran issue would move towards reconciliation and negotiations so that the regional situation could improve.
Atta Tarar
Information and Broadcasting Minister Attaullah Tarar said that saving the public from hardship is a major effort and that giving relief to the people is the prime minister’s top priority.
He said that, like the rest of the world, Pakistan’s economy has been affected by the regional situation, but the government is taking steps to provide relief to the public.
Tarar said more than 15 million people have so far benefited from the prime minister’s fuel relief package, under which Rs27 billion has been disbursed. Motorcyclists, rickshaw owners and people owning vehicles up to 800cc are benefiting from the package.
He added that the prime minister’s relief package will continue. Oil refineries have borne a burden of Rs15 billion to provide relief to the public, and efforts to establish peace in the region are also continuing.
Web Desk
About the Author
