Ministers caution that future price increases might be likely and current fuel supply should be responsibly used
The federal government urged the public on Saturday to adopt further austerity measures in daily life and to cooperate with the authorities in conserving energy in light of the fuel crisis created by the conflict in the Middle East.
Two weeks ago, the government sharply increased diesel and petrol prices by Rs55 per litre or 20% — due to the ongoing US-Israel and Iran war, which has disrupted supply chains and pushed crude oil prices to two years’ highest level.
The increase in petrol prices was more than the surge in the international market, as the government chose to collect more money than required from motorcyclists and car owners to subsidise the use of diesel, mostly by the public transport and the agriculture sector. However, the prime minister announced last night that the federal government had twice now absorbed the burden of the fuel price increases instead of passing it on to the public.
Both federal and provincial governments have since introduced a range of austerity steps, including an additional weekly holiday, cutting free petrol allocations for ministers, limiting protocol vehicles, and proposing subsidised fuel for students.
Addressing a press conference today, Information Minister Attaullah Tarar and Petroleum Minister Ali Pervaiz Malik called on the public to step ahead and implement more austerity measures to cooperate with the government in conserving fuel.
They cautioned that future price increases might be likely and said the country’s current fuel reserves should be responsibly consumed.
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More to follow.
