If global prices decrease, petrol will be cheaper: Federal Minister

The federal government has indicated that it will continue the petrol relief scheme for the public until global oil prices stabilize.

Federal Minister Ali Pervez Malik has said that the government is aware of the difficulties faced by the public and the petrol relief scheme will be continued in the current circumstances. According to him, the government is spending about 35 to 40 billion rupees every month on this scheme.

Talking to the media, the federal minister said that if the scheme has to be continued for several more months due to the current situation, the government will continue to provide relief to the public. He said that as soon as oil prices in the global market decrease, the benefit of this reduction will be transferred to local consumers.

He said that the Prime Minister had introduced a scheme to provide relief of up to Rs 100 per liter in the price of petrol, under which more than 6 million people have registered so far.

According to the Federal Minister, the number of 20-year-old motorcycles in the country is more than 25 million, which shows that the change in petrol prices affects a large number of citizens.

Ali Pervez Malik also thanked the petrol pump owners for their cooperation in extending the benefit of the relief scheme to the consumers without additional charges.

He said that the government, like in the past, will not take such decisions without preparation that will put additional pressure on the country’s economy. According to him, his statement last week was taken out of context.

The Federal Minister explained that his position was that if there is a shortage of petrol in the country, it may be difficult to control prices. However, the Prime Minister’s decisions will not allow oil shortage to occur in the country.

He said that the government is continuously monitoring the situation including the demand, supply and prices of petrol and oil so that the provision of relief to the people is not affected.