Petrol price peak to historic high in Pakistan - The Correspondent

Prime Minister Shehbaz Sharif on Friday decided to slash the quota of petrol of his cabinet members and government employees, it is learnt.

A day ago, the government raised the petrol price to Rs209.86 per litre. The decision was made in line with the conditions set forth by the International Monetary Fund (IMF) regarding the removal of subsidies from commodities so that it could lend funds to Pakistan.

Earlier, in an interview with TRT, PM Shehbaz said the next general election would be held within 15 months and till then his goal would be to address the challenges of inflation and poverty.

“My vision is to rebuild Pakistan and try my best to decrease poverty and cut the budget of the government sector to ensure austerity,” the premier added.

The prime minister said his government would take “short-term” measures to address the problems faced by the general public ahead of elections.

However, he stressed if he comes to power by the votes of the people, a full-fledged development agenda would be launched to deal with issues such as unemployment and poverty.

He added that the global skyrocketing prices of fuel had compelled his government to increase the cost of oil and gas. 

Khyber Pakhtunkhwa, Sindh austerity drives

Following the Centre’s decision, the Khyber Pakhtunkhwa government also announced that it will reduce the petroleum expenditure of all provincial government departments, institutions, and organisations by 35 percent with immediate effect.

Earlier, Sindh Chief Minister Murad Ali Shah also reduced the petrol quota of provincial ministers and government officers by 40 percent owing to the rising prices of petroleum products in the country.

Apart from Sindh, Karachi Administrator Murtaza Wahab also announced a 40 percent reduction in the petrol quota for Karachi Metropolitan Corporation (KMC) employees.

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