Overview
Prime Minister Shehbaz Sharif conduct a meeting with officials at his house regarding the relief of Petrol prices for middle and lower-class citizens. During a cabinet meeting PM decided with the Finance Ministry’s suggestion to conduct an extra Rs. 150 billion in annual subsidies from car owners.
Providing cheap price petrol to rickshaws and motorbike owner is a great step and will provide some aid during the high inflation situation. Previously, the government has provided relief to all vehicle owners and reduced the price of petrol by Rs. 5/liter. but this time only the lower and middle classes consider the government relief.
Moreover, the decision is taken to avoid the IMF objection. The government has the plan to increase petrol price by Rs 25 to Rs. 50 per liter for car owners and manage annual subsidies. According to the report, car owners might pay Rs. 300 to Rs. 325 per liter whereas the motorbike and rickshaw owners will pay Rs. 225 to Rs. 250 per liter.
The PM has passed the order to complete the proposal as soon as possible in order to compensate bike and rickshaw drivers.
Previous Less Petrol Price Order
A similar statement regarding the relief in petrol for motorbike and rickshaw owners had come by the previous government. But we had nothing heard anything practically, and it just remained for the shine of papers.
Just in one or two days, the final decision will come to us as it’s near to changing date decided by the government. Petrol prices remain just for 15 days as the government has decided and after March 15 2023 will receive petrol at a new rate decided by the federal government.
If the implementation of pay less for petrol happens, it would be counted positive impact on the government’s account.
Current Petrol Prices
The previous reduction in petrol price by Rs 5 per liter remains the same and prices of petroleum products are as follows.
- Petrol is available at the rate of Rs. 267 per liter.
- The diesel price was not changed and sold at the same price Rs. 280 per liter.
- Light Speed Diesel (LDO) is available for Rs. 184.68.
- Meanwhile, Kerosene Oil’s price is Rs. 187. 73 per liter.
