Despite a decline in global oil prices, the federal government has decided not to reduce domestic petroleum rates, choosing instead to allocate the savings to key infrastructure and development projects in Balochistan, according to a statement issued by the Prime Minister’s Office (PMO) on Tuesday.
Prime Minister Shehbaz Sharif, during a federal cabinet meeting, announced that the funds saved from the global oil price dip would be used to dualise the strategic N-25 Highway – the Chaman-Quetta-Kalat-Khuzdar-Karachi route. “The initiative is aimed to provide better travel facilities to the people of Balochistan,” the statement read.
The prime minister directed that the restoration and expansion of the highway should be carried out to meet full motorway standards. In addition, a portion of the funds will be allocated to complete Phase 2 of the Kachhi Canal, which is expected to irrigate hundreds of acres of agricultural land in Balochistan.
Balochistan Chief Minister Sarfaraz Bugti, who attended the cabinet meeting, expressed his gratitude to Prime Minister Sharif for prioritising development in the province, particularly the N-25 project and other long-awaited infrastructure efforts.
Meanwhile, the cabinet also approved an amendment to the Petroleum Products (Petroleum Levy) Ordinance, 1961, as recommended by the Petroleum Division. The PMO said the amendment is expected to contribute to boosting national revenue.