PM Shehbaz announces 'relief scheme' for bikes, autos, 800cc vehicles amid rising fuel prices
Prime Minister Shehbaz Sharif on Sunday announced a “relief scheme” for users of motorcycles, autos and vehicles of up to 800cc to “alleviate the burden” of rising global oil prices. Renewed hostilities in the Middle East, which have resulted in disruption of major oil supply routes, have caused fuel prices to rise in the past two months. In addition to the crisis in the Strait of Hormuz due to…
Prime Minister Shehbaz Sharif announced a relief scheme for users of motorcycles, autos, and vehicles up to 800cc to ease the burden of rising global oil prices. The scheme is aimed at alleviating the financial strain caused by the surge in fuel costs due to ongoing tensions in the Middle East, particularly the US-Iran war and threats from Houthi rebels disrupting oil supply routes.
Under the special relief scheme, two-wheeled and three-wheeled vehicle owners will receive Rs100 per litre for a monthly quota of 20 litres, while small vehicle owners up to 800cc will get a monthly quota of 30 litres at the same rate. The relief scheme will commence in Islamabad from the night of September 15, while the rest of the country, including Azad Kashmir and Gilgit-Baltistan, will benefit from the relief starting September 17.
Registration for the scheme began today, and the government intends to spread awareness through an awareness campaign. Prime Minister Shehbaz expressed gratitude towards the provinces for their cooperation in gathering information about motorcycles, rickshaws, and small vehicles for registration.
The recent price hike saw petrol reach Rs375.82 per litre and high-speed diesel (HSD) cost Rs403.32 per litre. Following the latest increase on Friday, the government continues to levy Rs114 per litre in taxes and duties on petrol and Rs100 per litre on diesel. Saudi Arabia's shutdown of its East-West pipeline due to aerial attacks threatens to further escalate energy prices.
The International Energy Agency (IEA) warned that global oil supply and demand will fall short of expectations this year due to the prolonged Iran war, causing fuel prices to soar. In July, fuel prices were fixed daily due to market fluctuations, replacing weekly revisions that started in early March. Prior to this, targeted relief measures were announced in April to subsidize fuel prices. The HSD price has since dropped from a peak of Rs520.35 recorded in April to its current level.
Written by urgent.news from Dawn Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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