Petroleum Minister Ali Pervaiz Malik on Sunday warned that petrol prices in Pakistan could rise to Rs1,000 per litre if the country faced a fuel shortage amid escalating global oil prices.
Speaking to journalists in Lahore, Malik said international oil prices had risen sharply following renewed conflict in the Middle East and attacks by Yemen’s Houthi movement on Saudi Arabia.
He said petrol prices in Pakistan had already increased by around 50%, while consumers in Europe and the United States were also facing significant increases.
The minister described the Houthi attacks as unacceptable and said the government was taking measures to provide relief to vulnerable groups affected by higher fuel prices. He also said efforts to increase domestic oil production were under way. Work on oil wells had started, and the government expected to discover crude oil locally by October, potentially reducing the country’s dependence on costly imports.
Following the latest domestic price adjustment, petrol is being sold at Rs389.14 per litre, while high-speed diesel costs Rs424.04 per litre.
To mitigate the impact of rising fuel prices, Prime Minister Shehbaz Sharif last Sunday introduced a relief programme offering a Rs100-per-litre subsidy on petrol for motorcyclists, rickshaw and motorcycle rickshaw drivers, and owners and drivers of vehicles with engines up to 800cc.
Federal Minister for IT and Telecommunication Shaza Fatima later announced three changes to the programme.
Under the revised criteria, motorcycles registered from January 1, 2006, are now eligible instead of only those registered from 2011 onwards. The change was made following feedback from citizens and journalists, according to the minister.
The government has also removed the previous five-litre limit per token. Eligible users of two- and three-wheelers can now purchase fuel according to their requirements. Each beneficiary can receive four tokens per month, with each token providing Rs500 in relief.
Fatima gave an example, saying that if two litres of petrol cost Rs780, an eligible beneficiary would pay Rs280 after applying the Rs500 relief token.
The government has also removed SMS charges under the programme, making messaging free for all registered beneficiaries regardless of their vehicle category.
According to Fatima, more than 1.75 million people had registered under the scheme by 3pm, while around 1.5 million tokens had been generated and more than 680,000 tokens redeemed at petrol stations.
