ISLAMABAD, June 03(ABC): A day after hiking the prices of petroleum products by Rs30, Prime Minister Shehbaz Sharif Friday decided to slash the petrol quota of the federal cabinet members and government employees, sources privy to the matter said.
The government announced increasing the petrol price to Rs209.86 per litre. The price of petrol, diesel, and light diesel were hiked by Rs30 per litre, while the rate of kerosene oil was increased to Rs26.38 per litre, effective from June 3.
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 will 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.
KP, Sindh’s austerity drives
Akin to 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 levying a 35% cut in petroleum products with an immediate effect.
