ISLAMABAD (The COW News Digital) Pakistan’s Petroleum Minister Ali Pervaiz Malik has revealed that petrol prices were set to increase by Rs15 per litre on Friday, but the government shifted the financial burden to oil refineries instead of passing the additional cost on to consumers.
Speaking at a joint press conference with Information Minister Attaullah Tarar in Islamabad, Malik said the decision was taken on the instructions of Prime Minister Shehbaz Sharif as part of the government’s efforts to provide relief to the public amid rising international energy prices.
The petroleum minister explained that global energy market fluctuations, increasing transportation expenses and higher insurance and logistics costs had placed additional pressure on Pakistan’s economy.
He said the government had requested cooperation from oil refineries to prevent a significant increase in domestic fuel prices.
According to Malik, the refineries agreed to shoulder a financial burden of approximately Rs15 billion, enabling the government to maintain petrol prices and provide consumers with relief of Rs15 per litre.
He further claimed that oil refineries had recorded exceptionally high profits over the past three months, earning amounts that had not been achieved in several years.
Malik emphasized that the government was committed to protecting consumers from the full impact of the international energy crisis.
He said more than 13 million petroleum consumers had benefited from government relief measures, adding that authorities were working to manage the crisis transparently without causing unnecessary hardship to the public.
Information Minister Attaullah Tarar said Prime Minister Shehbaz Sharif had prioritized minimizing the impact of petroleum price increases on ordinary citizens since the beginning of his administration.
Tarar noted that developments in the region, particularly the situation around the Strait of Hormuz and Bab el-Mandeb, had affected global economic conditions and increased pressure on Pakistan’s economy.
Despite these challenges, he said the country’s macroeconomic indicators had remained relatively strong.
The information minister revealed that the government’s fuel relief scheme had received more than 15 million registrations, describing the response as evidence of the programme’s effectiveness.
He added that approximately Rs27 billion had already been distributed in relief under the initiative.
Tarar said the fuel relief programme would continue to support eligible consumers, particularly motorcycle owners, rickshaw operators and individuals using small vehicles.
He explained that relevant government departments had coordinated efforts to implement the scheme and develop a strategy to prevent further increases in petroleum prices.
The minister reiterated that the government’s objective was to minimize the burden of rising fuel costs on the public while navigating the challenges posed by the international energy crisis.
The latest announcement comes amid continued volatility in global energy markets, with Pakistan seeking to balance consumer relief, economic stability and rising petroleum import costs.
