Govt enlists oil refineries to shield citizens from global price hikes

The government said on Monday that oil refineries would bear a burden of approximately Rs15 billion each month, which would allow petrol to be sold Rs15 cheaper than what it was in the global market amid the US-Israeli war on Iran. The statement came at a press conference in Islamabad addressed by Petroleum Minister Ali Pervaiz Malik and Information Minister Attaullah Tarar. Addressing the conference, Malik said that Prime Minister Shehbaz Sharif had made efforts to meet with oil refineries and consult with them regarding interventions to ensure that people got the cheapest petrol amid impending steep fuel price increases, including an increase of about Rs15 that would have taken effect on Friday. “I am grateful to all the refineries that saw the public is in difficulty and with the government’s help …

increased their throughput,” the minister said, adding that these refineries had made profits from this throughput in the last three months. “They were requested to take a step to support the public during this difficult time, and I am glad that they listened to us … the Rs15 increase that was coming in the petrol prices on Friday, they helped the government with that. Because of that we were able to maintain the price. ” He added that more improvement would be seen by the public, expressing his gratitude to the refineries for standing with the government to provide assistance to the public during a time that had caused everyone difficulties — even the government as it struggled to procure oil at increasing prices. As a result of this step, he highlighted, a load of approximately Rs15 billion a month would be borne by these refineries, allowing petrol to be sold at a rate Rs15 per litre cheaper than what it would be in the international market. He expressed his hope that…