Petrol can be Rs. 100 per litre low after Russian Oil Import

Petrol-can-be-rs-100-per-litre-low-after-russian-oil

Khawaja Asif Mehmood, Information Secretary of Pakistan Petroleum, stated that the arrival of Russian oil may result in a Rs. 100 per litre decrease in petrol prices in the country.

Petrol Price lowered

In an interview with the media, the secretary stated that with the drop in the price of oil on international markets, oil should have been cheaper in Pakistan as well.

According to the agreement with Russia, Pakistan will receive the oil at a lower price than the market price. According to the secretary, Russian oil will arrive in Pakistan in the third week of May.

The first batch is being sent to Pakistan as a test. He also stated that Pakistan currently has two refineries that can process inbound oil, with additional work needed on other refineries.

The first crude oil shipment will arrive in Pakistan in the last week of May or the first week of June. On this shipment, Pakistan will receive a discount of up to $18 per barrel. This is a promising development for the Pakistani people, who have been crippled by inflation.

The government increased the subsidy for low-income people to Rs100, and more measures will be announced to protect the poor from the effects of rising inflation.

Dr Musadik Malik, Minister of State for Petroleum, stated that Prime Minister Shehbaz Sharif had directed that the relief scheme be implemented within six weeks, and that a mechanism to ensure transparency in the relief package would be finalised.

Dr. Malik spoke at a press conference the day after Prime Minister Shehbaz Sharif announced a petrol subsidy for small vehicle owners while chairing a high-level meeting in Lahore.

The prime minister announced that low-income people would be eligible for a subsidy of up to Rs50 per litre.

He directed that the assistance be provided to low-income consumers who own motorcycles, rickshaws, 800 cc cars, and other small vehicles.

“On the orders of Prime Minister Shehbaz Sharif, the subsidy on petrol prices under the relief scheme has been increased to Rs100 from [previously announced] Rs50 for the poor on every litre of petrol,” Malik said.

“The prime minister has ordered that the petrol relief scheme be implemented within six weeks,” the minister of state said, adding that no additional subsidies would be provided by the government exchequer.

Malik explained the scheme’s key features, stating that a low-income person required approximately 21 litters of petrol per month. With this in mind, the vehicle owner would receive a subsidy on 21 litres of petrol per month.

“For cheap petrol, a message will be sent. Motorcycles will not be given more than 2 or 3 litres of petrol in one go,” he said. “The poor will be given a relief of Rs100 on every litre of petrol,” he added.

According to the minister, those who could afford petrol or those from the upper class would be charged higher prices, with a portion of the proceeds going to the poor. He emphasised a number of other pro-poor measures announced by the government.

“We have divided the gas tariff between the rich and the poor.” Today, the poor pay one-fourth of what the rich pay.

The minister also mentioned a free flour programme for the poor in Punjab during the holy month of Ramazan. “The government will also bring a third programme for the poor in a few weeks,” he added.

He chastised former Prime Minister and Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan, accusing him of thinking himself above the law and the Constitution and defying court orders.

To read our blog on “Govt. cuts Rs. 5 on diesel, keeping petrol prices unchanged,” click here

Muhammad Kamal
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