Islamabad: Prime Minister Shehbaz Sharif has stated that there is a strong possibility of an increase in oil prices. He was addressing the nation directly on television.
The Prime Minister said that due to the ongoing war, there is a risk of rising oil prices in Gulf countries. He recalled that on March 13, he was advised to increase petroleum prices, but he rejected the proposal and absorbed a burden of Rs 24 billion himself so that the public would not face the impact.
Now, with oil becoming more expensive in the global market, he was again advised to raise prices. However, keeping in view Eid ul-Fitr and the burden of inflation, he has decided to place an additional burden of Rs 45 billion on the government to protect the deprived classes from this load.
So far, the government has borne a total burden of Rs 69 billion to shield the people from a Rs 175 increase in petrol and Rs 252 increase in diesel prices. Although this is not a permanent solution, he has issued immediate instructions to the relevant institutions to ensure that government relief benefits only the deserving segments.
The government remains committed to protecting the poor from the crushing weight of inflation. At the same time, the nation as a whole must adopt austerity measures and curb unnecessary expenditures. It is also the duty of the elite to fulfill their responsibilities.
The austerity campaign was initiated by this government and is now fully in effect. The Prime Minister personally reviews these measures to ensure compliance.
