ISLAMABAD: Pakistan’s Economic Coordination Committee on Monday approved Prime Minister Shehbaz Sharif’s fuel relief package, under which motorcycle and rickshaw users will receive 500 rupees in weekly assistance, while owners of vehicles with engines up to 800cc will receive 1,000 rupees every 10 days.
The ECC meeting was chaired by Finance Minister Muhammad Aurangzeb.
According to an official statement, the committee approved a technical supplementary grant of 75 billion rupees for the fuel relief scheme.
The scheme will be available only to non-commercial users, with each individual or vehicle owner eligible for relief for only one vehicle.
The ECC also approved the introduction of a Fuel Pass system to ensure transparent distribution of the relief. The Ministry of Information Technology will develop and manage the digital Fuel Pass system.
The committee also approved a framework for restructuring the ownership and administrative control of Pakistan National Shipping Corporation. It endorsed recommendations made by a committee headed by the privatization minister.
The ECC approved a draft upgrade agreement for existing oil refineries, setting a five-year period for completion of refinery modernization projects.
The committee deferred a decision on the commercial import of used vehicles.
It also approved the export of an additional 200,000 metric tons of sugar, subject to safeguards aimed at maintaining price stability in the domestic market.
The ECC further approved 3 billion rupees for the purchase of 15 bulletproof vehicles for the Shanghai Cooperation Organization summit.
Earlier, Prime Minister Shehbaz Sharif on Sunday announced a special relief scheme offering a Rs100-per-liter discount on petrol for motorcyclists, rickshaw and Chingchi users, and people driving vehicles with engines of up to 800cc. The government introduced the scheme to reduce the impact of rising fuel prices caused by tensions in the Middle East.
After the latest increase announced Friday, petrol is now priced at Rs375.82 per liter, while high-speed diesel costs Rs403.32 per liter. The prices were increased by Rs5.02 and Rs5.28 per liter, respectively.
