ISLAMABAD: The government has decided to allocate Rs23 billion saved under its austerity policy to provide subsidies for motorcycle and rickshaw owners.
The decision was shared during a meeting of the Senate Standing Committee on Petroleum, where the Secretary Petroleum informed lawmakers about the government’s plan to utilize funds saved through cost-cutting measures to support low-income citizens.
The Secretary Petroleum stated that the government had adopted several austerity steps, resulting in savings of approximately Rs23 billion. These funds, he said, will be used to offer subsidies to individuals who own motorcycles and rickshaws.
He explained that the subsidy will primarily target deserving beneficiaries identified through the data of the Benazir Income Support Programme (BISP).
“The government has decided that the savings generated through austerity measures will be redirected toward relief initiatives for the public,” the Secretary Petroleum told the committee.
He added that the subsidy mechanism would be similar to the financial relief provided during the COVID-19 pandemic, when targeted assistance was extended to vulnerable groups.
However, raised questions about the source of the Rs23 billion and the specific measures that led to these savings. They focused on that the financial benefit should reach the general public rather than energy companies.
The committee was also briefed on the current availability of petroleum products in the country.
He informed the committee that the country has crude oil reserves sufficient for approximately 11 days. Diesel stocks are available for 21 days, while petrol reserves can meet demand for around 27 days.
In addition, liquefied petroleum gas (LPG) reserves are available for about nine days, and aviation fuel (JP-1) stocks are sufficient for 14 days.
