Key Takeaways
- Federal Minister Ali Pervaiz Malik confirmed the government's commitment to protecting vulnerable segments.
- Petrol prices were increased by Rs4.42 per litre, while HSD by Rs6.10 per litre, effective September 15.
- A special relief scheme offers Rs100 per litre off petrol for motorcycles, three-wheeler rickshaws, and cars up to 800cc.
Federal Minister for Petroleum Ali Pervaiz Malik stated that the government is committed to protecting vulnerable segments of society through targeted relief on petrol prices during difficult economic times. Speaking to a private television channel, Malik highlighted the government's strategy to continue the relief scheme until further notice.
The latest price revision saw the petrol price increased by Rs4.42 per litre, while high-speed diesel (HSD) was increased by Rs6.10 per litre, effective from September 15. The new prices set petrol at Rs380.24 per litre and HSD at Rs409.42 per litre.
This increase follows a previous revision on September 12, where petrol and HSD prices were raised by Rs5.02 and Rs5.28 per litre, respectively. The government's decision to increase prices comes amid renewed tensions between the United States and Iran, which have driven volatility in global oil markets and raised concerns over fuel supplies.
In an attempt to shield lower-income consumers from the impact of rising petroleum prices, Prime Minister Shehbaz Sharif announced a special relief scheme. The scheme offers Rs100 per litre off petrol for motorcycles, three-wheeler rickshaws, and cars with engines up to 800cc. According to the Prime Minister's Office, approximately 11.8 million beneficiaries are expected to be covered under this scheme.
The relief measures are aimed at alleviating the burden of rising oil prices on users of motorcycles, rickshaws, Qingchis, and small vehicles. The government's commitment to protecting vulnerable groups is evident in the implementation of this special scheme, which is expected to benefit a significant portion of the lower-income population.
The government's decision to increase petrol and HSD prices, coupled with the introduction of the relief scheme, reflects a balanced approach to managing the economic impact of global oil market fluctuations. The measures are designed to ensure that essential services and transportation remain accessible to the majority of the population.
While the government has taken steps to mitigate the impact of rising fuel prices, the ongoing volatility in global oil markets remains a concern. The government's continued commitment to protecting vulnerable segments of society through targeted relief measures is a positive step towards ensuring economic stability and social welfare.
In this hour of difficulty, we will not leave the public alone. To alleviate the burden of rising oil prices on users of motorcycles, rickshaws, Qingchis, and small vehicles, a special scheme is being initiated.
Prime Minister's Office, Statement
