Govt absorbs Rs69b burden to keep fuel prices stable: Aurangzeb

• Finance minister says relief provided to shield public from rising oil costs, revealing targeted relief package being prepared for low-income groups

• Says no major crisis expected as energy situation likely to improve by April, reiterating govt prioritising minimal financial pressure on citizens

• Stresses demand management, energy efficiency key to long-term stability

 LAHORE: Federal Finance Minister Muhammad Aurangzeb on Sunday said the government had absorbed a burden of Rs69 billion to maintain stability in petroleum product prices and provide maximum possible relief to the public amid rising global pressures.

Talking to the media, the finance minister warned that ongoing regional tensions and the possibility of conflict could pose risks to energy infrastructure and disrupt supply chains, potentially affecting fuel availability.

He, however, expressed optimism that the energy supply situation would improve by April, assuring that the country is unlikely to face any major crisis. He emphasized that the government’s top priority remains minimizing financial pressure on citizens, with effective measures being implemented at multiple levels.

“The government is pursuing a serious and comprehensive strategy to maintain economic stability despite limited resources,” he said.

Focus on sustainable solutions

Aurangzeb noted that resources are not unlimited, underscoring the need for sustainable and long-term solutions. In this regard, the government is considering demand management, efficient energy use, and conservation measures to curb unnecessary consumption.

He further revealed that a targeted relief package is being prepared for deserving and low-income segments, aimed at mitigating inflationary pressures and ensuring support reaches those most in need.

Call for collective input and national effort

The finance minister invited economists, stakeholders, and the general public to share their suggestions to help improve policymaking and ensure more effective economic decisions.

Referring to Prime Minister Muhammad Shehbaz Sharif’s recent address, he said the premier had outlined the key economic and energy challenges facing the country, and the government is taking all possible steps to address them.

Eid message and outlook

Extending Eidul Fitr greetings to the nation, Aurangzeb prayed for sustainable stability, development, and security in the country. He expressed confidence that through collective efforts and responsible behavior, Pakistan will successfully navigate the current challenges.