LAHORE: Petroleum Minister Ali Pervaiz Malik has said the government may continue the petrol subsidy scheme for up to 10 months, if necessary, to provide relief to the public. He added that any decline in international crude oil prices would also be passed on to consumers.
Speaking to the media in Lahore, Malik said the government was spending Rs35 billion to Rs40 billion per month on the petrol subsidy scheme. Under the initiative launched by Prime Minister Shehbaz Sharif, consumers are receiving relief of up to Rs100 per litre, while more than six million people have registered for the scheme so far.
The minister said Pakistan has more than 25 million motorcycles that are around 20 years old, adding that the subsidy could be maintained until the end of the crisis if required.
Malik also thanked petrol station owners for helping extend the benefits of the scheme to consumers without charging additional fees.
Clarifying his earlier remarks that petrol prices could reach Rs1,000 per litre, the minister said his comments had been taken out of context. He explained that he was referring to the difficulty of controlling prices in the event of a petrol shortage.
He further said that Pakistan would not face a petrol shortage as a result of the prime minister’s decisions and that the government was closely monitoring the situation.
