On Sunday, Prime Minister Shehbaz Sharif unveiled a special fuel relief initiative aimed at alleviating the financial strain caused by rising petrol prices for users of motorcycles, rickshaws, Qingqi, and small cars. This announcement comes in light of escalating global oil prices due to ongoing tensions in the Middle East, as reported by the PM Office.
This announcement follows a recent increase in petrol prices by Rs3.05 per litre and high-speed diesel (HSD) by Rs5.37 per litre, effective from Friday through Monday, marking the fourth consecutive rise in fuel prices.
The new scheme will provide users of motorcycles, rickshaws, and other two- and three-wheel vehicles with a relief of Rs100 per litre on a maximum of 20 litres of petrol each month. Additionally, owners of vehicles with engines up to 800cc will also qualify for the same Rs100-per-litre relief on up to 30 litres monthly.
The initiative will be implemented in Islamabad starting from the night between Monday and Tuesday, with a nationwide rollout, including Azad Jammu and Kashmir and Gilgit-Baltistan, commencing from the night between Wednesday and Thursday. Registration for the scheme began on Sunday, with further details about the registration process to be shared through an awareness campaign.
Shehbaz emphasized that the government is acutely aware of the challenges posed by rising oil prices and is committed to supporting the public during these tough times. He expressed gratitude to the provinces for their assistance in gathering information on motorcycles, rickshaws, and small vehicles to streamline the registration process for the relief scheme.
It is important to note that while international oil prices dipped on Friday, they are still projected to achieve a weekly increase of over 8%. Meanwhile, US diesel prices have reached an all-time high due to concerns over potential supply disruptions stemming from attacks on shipping routes in the Middle East.
Brent crude futures closed at USD104.61 per barrel, reflecting a decrease of USD3.02, or 2.81%.