Advisor to the Finance Minister Khurram Shahzad Friday said that international market pressures and global crises have pushed up petrol and diesel prices, adding that the government remains committed to relief measures and regular price reviews.
While speaking to a local media channel, Advisor Shahzad explained that recent global tensions and ongoing conflicts have impacted international oil markets, contributing to the rise in petrol and diesel prices.
He further said that domestic consumption has not been significantly affected, as the government has taken necessary austerity measures and urged provincial authorities to ensure proper implementation of these steps.
In addition, a targeted subsidy for motorcyclists has been introduced, adding, Pakistan had been anticipating adjustments for the past three weeks, which have now been implemented.
He added that despite these challenges, the government has extended a targeted subsidy for motorcyclists to ease the burden on daily commuters.
Under the BISP program, provincial authorities are currently collecting data on eligible bikers to ensure that relief reaches the intended beneficiaries efficiently.
Khurram Shahzad emphasized that the federal government remains committed to standing by the public during these difficult times, with fuel prices to be reviewed on a weekly basis.
He urged citizens to cooperate while the government continues to provide relief within its limited resources.
Responding a query, he further explained this is not just a domestic issue but an international one, noting that even Dubai, which produces its own oil, has increased prices by 70 percent.
In comparison, Pakistan’s situation is far better, and the government continues to monitor and review fuel prices regularly.
He added that once the economic situation improves, prices are expected to come down at a similar pace, assuring the public that relief measures will continue alongside ongoing price reviews.
“The government acknowledges the issue and will review prices without delay,” he mentioned.