Government Announced 50 Rupees Relief on every 1 litter Ride

As inflation rises exponentially, so are the petrol prices in Pakistan. However, this time it came with relief for the poor stratum of society. As Government of Pakistan has announced a complete petrol package for impoverished families who are more vulnerable to the volatile prices of petrol. The Minister of State for Petroleum, Musadik Masood Malik, announced that the government plans to charge Rs100 more for petrol for the rich in order to provide relief to low-income segments through fuel subsidies.

The Prime Minister also recently announced a relief package for the poor, including a subsidy of Rs50 for every liter of petrol for low-income consumers with motorcycles, rickshaws, 800cc cars, or other small vehicles. The step is taken in order to provide slight relief when the economy is facing a distorted flow. Malik stated that the government will implement the subsidy within the next six weeks and that the financing for the scheme will be accommodated through taxes paid by higher-income individuals. As to the ministry, an average of 60% of the population will benefit from the relief offer.

Moreover, he enumerated a similar mechanism that has been applied in gas tariffs in the past, with bills for the poor reduced by three times compared to those of the rich. The government recently increased the prices of all petroleum products, except light diesel oil, by up to Rs13 per liter for the next fortnight, citing an increase in Platts Singapore prices and rupee depreciation over the outgoing fortnight. The decision was taken in pursuance of the steps taken by the Government of Pakistan to retrieve the economy from crisis and help those unprivileged and face the out-turns of inflation. This came with the motive to tax the privileged and ease the poor.