The newly established government is in a hurry to provide relief to the masses, specifically in the petrol and energy sector.
On Wednesday (today), Prime Minister Shehbaz Sharif chaired an emergency meeting on the country’s situation in the energy sector. The meeting was also attended by former prime minister Shahid Khaqan Abbasi, ex-finance minister Miftah Ismail, Oil and Gas Regulatory Authority (OGRA) chairman, and secretaries of the finance and petroleum division.
The meeting’s agenda revolved around the price of petroleum products. The Oil and Gas Regulatory Authority (OGRA) chairman gave a detailed briefing on the petroleum prices mechanism and potential options to continue the subsidy considering the IMF commitments. The meeting considered the alternatives through which subsidies on petroleum products can be extended further.
The prime minister was also briefed on the power loadshedding in the country and instructed the authorities to control the loadshedding immediately. He said the reasons for loadshedding should also be ascertained and warned that the negligence of the concerned ministries in this matter will not be tolerated.
While talking to the media, Miftah Ismail said that the government had been providing a subsidy of Rs. 40 on every liter of petrol. He said that the prime minister has emphasized price cuts on daily-use commodities and essentials, specifically during Ramadan. He believes that there is a need for striking a balance between the national and public interests, Miftah added.