Ministers warn that future price rises may be likely and that current fuel supplies should be used responsibly
The federal government on Saturday urged the public to adopt further austerity in daily life and to cooperate with the authorities to save energy in the face of the fuel crisis created by the conflict in the Middle East.
Two weeks ago, the government hiked diesel and petrol prices sharply by Rs 55 per liter or 20% – due to the ongoing war between the US and Israel and Iran, which has disrupted supply chains and pushed crude oil prices to two-year highs.
The increase in gasoline prices was more than the increase in the international market, as the government chose to collect more money than required from motorcyclists and car owners to subsidize the use of diesel, mainly by the public transport and agricultural sectors. However, the Prime Minister announced last night that the federal government had now twice absorbed the burden of the fuel price rises rather than passing it on to the public.
Both the federal and provincial governments have since introduced a series of austerity measures, including an extra weekly holiday, cutting free petrol allocations for ministers, restricting protocol vehicles and proposed subsidized fuel for students.
During a press conference today, Information Minister Attaullah Tarar and Petroleum Minister Ali Pervaiz Malik urged the public to come forward and implement more cost-saving measures to cooperate with the government to save fuel.
They warned that future price increases could be likely and said the country’s current fuel reserves should be consumed responsibly.
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More to follow.
