Over 12 mln deserving people being provided subsidised petrol at pre-war prices: Ali Pervaiz Malik

ISLAMABAD, Nov 01 (APP):Minister for Petroleum Ali Pervaiz Malik said on Sunday that more than 12-13 million deserving people were being provided subsidised petrol at pre-war prices. Speaking at a university convocation, he said: 'Today, as I stand before you, I am pleased to share with all of you that more than 12-13 million people who deserve this subsidy, who deserve subsidised fuel, are being provided subsidised petrol at pre-war prices.' Explaining the impact of the crisis, he said the disruption around the Strait of Hormuz had affected everyone. Families had been forced to make difficult choices as countries struggled to arrange foreign exchange to buy increasingly expensive oil, gas, LPG and other fuels to keep their economies running. He described the Strait of Hormuz crisis as unprecedented in both its depth and breadth. He said the prolonged crisis, had tested the resilience of countries around the world. He said Pakistan was among the few countries that had successfully moved from unsustainable blanket subsidies to targeted subsidies supported by technology. These subsidies were focused on people who needed assistance the most. He said Pakistan had managed to navigate the crisis without suffering the same damage as many countries in the region. The minister said the government had not used its resources to subsidise fuel for those who could easily afford it, including families owning Land Cruisers and people with considerable financial resources. Instead, he said, the government had saved its resources and directed support towards people who genuinely needed it. The minister said the government had ensured transparency in the fuel price-setting process and made all relevant information available to the public. He said consumers would not have to approach him or the prime minister for relief once prices in the international market started to come down. 'Automatically, all those benefits should start trickling back into your homes,' he said.