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Govt to Bring Back Targeted Subsidy if Petrol Prices Keep Rising: Minister
['M Ali']
TechJuice
Petroleum Minister Ali Pervaiz Malik has announced that the government will reintroduce a targeted subsidy system to provide relief to the public if global oil prices continue to rise amid the ongoing war situation.
Responding to a question on whether petrol prices in the country would decrease, the minister cited global and regional tensions as the primary factor affecting prices.
He said that although international petroleum prices had shown a slight decline two to three days earlier, they have since started rising rapidly again.
He said that any fluctuation in international petroleum prices is passed on directly to consumers rather than being absorbed by the government.
Ali Pervaiz Malik reiterated that if the war does not stop and prices keep rising, the government will bring back the targeted subsidy system to ensure relief and protection for the poorest segments of society.