Govt enlists oil refineries to shield citizens from global price hikes
The government said on Monday that oil refineries would bear a burden of approximately Rs15 billion each month, which would allow petrol to be sold Rs15 cheaper than what it was in the global market amid the US-Israeli war on Iran. The statement came at a press conference in Islamabad addressed by Petroleum Minister Ali Pervaiz Malik and Information Minister Attaullah Tarar. Addressing the…
Pakistan's government has enlisted oil refineries to help shield citizens from global price hikes, according to a statement made on Monday. Petroleum Minister Ali Pervaiz Malik and Information Minister Attaullah Tarar addressed this matter at a press conference in Islamabad. The refineries were asked to absorb a portion of the Rs15 billion monthly burden, enabling petrol to be sold 15 rupees cheaper per litre than in the international market.
This move came as a response to the impending fuel price increases, including a potential Rs15 rise that was postponed due to the refineries' assistance. The ministers expressed hope that the Middle East crisis would soon lead to a peace agreement, allowing the government to focus on deregulation and refinery upgrades. They also highlighted that Pakistan's economy had been less affected compared to other countries, despite the global situation.
The fuel subsidy scheme, announced on September 13, has been successful, with over 15 million users registered. The government has also taken measures to regulate market hours and reduce fuel allocations for official vehicles to manage costs.
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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