Petrol Relief Unaffordable: Petroleum Minister

Federal Petroleum Minister Ali Pervez Malik on Sunday remarked the federal administration cannot continue providing unconditional subsidies on expensive petrol since the cost of the global oil shock is thousands of billions of rupees.

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• The minister is scheduled to visit Saudi Arabia next week to thank the country for its oil supply and express solidarity during the current tough situation.
• Malik remarked petrol costs in Pakistan are linked to international oil rates and are not changed at his discretion.
• He continued that the measures needed before winter have additionally been presented to the Prime Minister.

Speaking to workers in his constituency, the minister remarked the country cannot confront the "oil storm" through unconditional subsidies as the financial burden is too sizeable.

He remarked the administration must first arrange resources before increasing spending. When Pakistan faced severe economic pressure and inflation, he cautioned that spending without securing the necessary funds could produce a situation similar to 2022. 3 Ways IMF Can Hurt Pakistan.

Malik remarked petrol costs in Pakistan are linked to international oil rates and are not changed at his discretion. He continued that any decline in global oil costs would be reflected in domestic rates as well.

Notably, the minister is scheduled to visit Saudi Arabia next week to thank the country for its oil supply and express solidarity during the current tough situation.

He remarked Pakistan is facing major challenges in the coming months and that he has already briefed Prime Minister Shehbaz Sharif on the matters projected during December, January and February. He continued that the measures needed before winter have additionally been presented to the Prime Minister.

Malik remarked the administration additionally aims to address the projected gas shortage by arranging timely LPG supplies. Stay Connected with ProPakistani.

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Taken together, the developments around petrol Relief Unaffordable: Petroleum Minister point to a situation that is still moving, and the coming days should bring more clarity.