ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday approved a one-month extension in subsidies for motorcyclists, goods and public transport operators, vowing to continue relief measures for the masses as fuel prices continue to remain high amid tensions in the Middle East.
Pakistan hiked petrol prices in March and April, as the conflict in Iran drove global oil prices to over $100 per barrel. Pakistan, which imports most of its crude oil from the Middle East, has been hit by volatility in global energy markets as the conflict has disrupted supply routes, particularly through the Strait of Hormuz, a critical artery for global oil shipments.
The government had announced a subsidy of Rs100 ($0.36) per liter for motorcyclists, capped at 20 liters per month. To cushion the impact of surging fuel costs, the government also announced up to Rs70,000 ($252) subsidy per month for freight trucks, Rs80,000 ($288) for larger transport vehicles and Rs100,000 ($360) per month for public passenger buses.
“The prime minister has approved a one-month extension in the subsidy previously granted last month for motorcycle users, public transport and goods transport operators,” the Prime Minister’s Office (PMO) said in a statement.
“He has also directed that any increase in fares for passenger and freight transport be prevented.”
Screenshot of PM Shehbaz Sharif's X post
The premier urged authorities to continue effective monitoring of public relief initiatives so that deserving individuals could benefit from them.
“Providing relief to ordinary citizens remains the government’s top priority, and the public will not be left alone under any circumstances,” Sharif was quoted as saying by his office.
The prime minister hoped that the regional situation would improve soon so that it results in a stability in the prices of petroleum products.
Pakistan’s government says it has attempted to provide broad protection to consumers but, with no end in sight to the conflict and constrained resources, it has had no option but to pass on the increase in prices of petroleum products in line with international market movements.
