Islamabad:Minister for Information and Broadcasting Attaullah Tarar has announced that petrol prices were set to rise by 15 rupees per litre on Friday. However, Prime Minister Shehbaz Sharif intervened, directing that the additional financial burden be shifted to refineries instead of consumers. This decision was revealed during a news conference held alongside Minister for Petroleum Ali Pervaiz Malik.

According to Radio Pakistan, Attaullah Tarar emphasized the Prime Minister's commitment to minimizing the impact of rising petroleum prices on the public. He noted that Pakistan's economy, similar to global economies, has been affected by regional tensions, especially developments around the Bab al-Mandab and the Strait of Hormuz. Nonetheless, Pakistan's macroeconomic indicators have remained stable due to the Prime Minister's efforts.

The Information Minister detailed the Prime Minister's Fuel Relief Scheme, under which over 15 million people have registered, and relief worth 27 billion rupees has been provided. He highlighted that the scheme's success is evident from the large number of registrations and the availability of petroleum products at subsidized rates. The scheme targets consumers using motorcycles, Qingqi rickshaws, and vehicles up to 800cc, offering them fuel at reduced prices.

Attaullah Tarar also addressed criticisms of the PTI, mentioning that despite over 13 years of continuous power, the party failed to develop essential infrastructure in Khyber Pakhtunkhwa. He contrasted this with the current administration's efforts, noting that qualified individuals have now assumed roles in the province to improve the situation. The government has initiated comprehensive reforms, including changes within the Federal Board of Revenue, aimed at enhancing economic stability and transparency.

Minister for Petroleum Ali Pervaiz Malik expressed gratitude towards local refineries for agreeing to absorb the increased costs, thus aiding the government in maintaining petrol prices to provide relief to consumers. He reiterated the government's commitment to shielding consumers from the effects of rising international oil prices and signaled a move towards deregulating the petroleum sector once market conditions are favorable.