From Daily Times · Sajid Salamat · · 1m 20s
Govt Shifts Rs15bn Fuel Price Burden to Refineries
Pakistan's government shifts Rs15bn monthly fuel price burden to refineries to shield masses from Rs15 per litre petrol hikes.
In brief
Pakistan's government shifts Rs15bn monthly fuel price burden to refineries to shield masses from Rs15 per litre petrol hikes. Pakistan's government directs refineries to absorb Rs15bn monthly fuel price increases to keep petrol Rs15 cheaper than global market prices. Originally reported by Daily Times.
Government Announcement
The government said on Monday that oil refineries would bear a burden of approximately Rs15 billion each month.
Petroleum Minister Statement
Petroleum Minister Ali Pervaiz Malik said Prime Minister Shehbaz Sharif made efforts to meet with refineries to ensure cheapest petrol amid steep price increases.
Refineries' Contribution
Refineries increased throughput to help public during difficult times, enabling the government to maintain petrol prices below international market rates.
Monthly Financial Impact
This step means refineries bear approximately Rs15 billion monthly, allowing petrol to be sold Rs15 cheaper than global market prices.
Fuel Subsidy Scheme
The government launched a fuel subsidy scheme on Sept 13 with 15 million unique users receiving weekly petrol concessions.
Price Adjustments
Petrol prices dropped by Rs3.40 per litre to Rs374.51, while high-speed diesel fell by Rs7.76 to Rs395.20.
Government Stance
The government aims to protect public interests during crises while prioritizing long-term deregulation and refinery upgrades.
In short
Pakistan's government directs refineries to absorb Rs15bn monthly fuel price increases to keep petrol Rs15 cheaper than global market prices.
