ISLAMABAD — Prime Minister Shehbaz Sharif has announced a targeted relief scheme under which millions of users of motorcycles, rickshaws and small-engine vehicles would get Rs100 per litre in fuel relief as petrol prices skyrocketed. The move comes amid record-high fuel prices for motorists across Pakistan, with petrol priced at Rs375.82 per litre and high-speed diesel Rs403.32 per litre.

The owners of motorcycles, rickshaws, Qingqi rickshaws and cars with engines up to 800cc will be entitled to a relief of Rs100 per litre under the new scheme. The subsidy will be on up to 30 litres of petrol a month for qualifying car owners.

The prime minister said the government fully understands the financial pressure that the rising oil prices are putting on the public and would not leave them alone during the ongoing crisis.

The announcement comes amid rising tensions in the Middle East that have sent global oil prices soaring. The situation is further complicated by attacks from Yemen on Saudi energy facilities and adds another layer of uncertainty to already volatile international energy markets.

Pakistan has moved to a daily petroleum pricing mechanism, replacing the weekly system, in a bid to respond more quickly to swings in global oil prices.

 The relief scheme will start from Monday night to Tuesday night in Islamabad while it will be extended countrywide including Azad Jammu and Kashmir and Gilgit-Baltistan from Wednesday night to Thursday night.

The announcement provides some relief for millions who depend on two-wheelers and small vehicles to commute and make a living, but with global oil markets still unpredictable, questions remain over how long the pressure at Pakistan’s fuel pumps will persist.

 Credit: Independent News Pakistan (INP) — Pak-China