Car Owners to Pay 357/Liter Under Cheap Petrol Scheme

20 Apr 2023

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Car Owners to Pay 357/Liter Under Cheap Petrol Scheme

The Pakistani government is reportedly planning to introduce a new "Sasta petrol Scheme," which is expected to impose an additional charge of up to Rs. 75 per litre on car owners. Despite the earlier promises made to the International Monetary Fund (IMF) about not launching a petrol subsidy scheme for small vehicle owners and motorcyclists, the incumbent government is now gearing up to introduce the new program. The government has already submitted the summary of the scheme to the Economic Coordination Committee (ECC) of the federal cabinet for approval.

Media reports suggest that the summary was sent for approval after Shahbaz Sharif, the Leader of the Opposition in the National Assembly, gave it the go-ahead. The summary indicates that the government aims to collect up to Rs. 75 per litre from consumers, who are already struggling to pay a high price of Rs. 282/L for petrol. Critics have labelled the scheme as a mere political stunt by the ruling alliance to maintain their popularity among the masses, shifting the burden of inflation on already struggling people.The government's Decision to continue to increase petrol prices has left some car owners devastated and now this hike bomb will most likely make people switch to motorbikes. We have seen for past couple of months in order to meet IMF demands Government has been continuously increasing Petrol Prices, Diesel Prices as well as Kerosene Prices.

Cheap Petrol Scheme

The proposed scheme has also raised concerns about its impact and possible misuse by the international lender, the IMF. Sources suggest that the deputy managing director of Pakistan has assured the IMF that the government has no plans to implement such measures. It remains to be seen whether the scheme will gain approval from the ECC or face further opposition.

In contrast to the Sasta petrol Scheme, the government recently announced a Rs. 50/litre subsidy for the lower-income section of society. The Minister of State for Petroleum, Musadik Masood Malik, declared that the government would charge an additional Rs. 100/litre for petrol from the affluent section of society. The goal is to make petrol more affordable for the poor by using the higher prices paid by the rich to subsidize petrol for low-income people. The government aims to increase the subsidy to Rs. 100/litre, and the rich would be charged Rs. 100 more while the poor would pay Rs. 100 less. Economists have explained the possible implementation of this program in detail.

The proposed Sasta petrol Scheme is expected to increase the financial burden on car owners in Pakistan. While the government aims to balance the price of petrol between the rich and poor, critics argue that the burden of inflation should not be imposed on the masses. The government must consider alternative approaches to address the financial challenges faced by the country's citizens.

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