Govt bears Rs 69b shock to maintain POL prices: Aurangzeb

LAHORE, Mar 22 (APP): Federal Finance Minister Muhammad Aurangzeb said on Sunday that the government had borne the burden of Rs 69 billion to maintain stability in the prices of petroleum products and provided possible relief to the people.
Talking to the media here, he added that ongoing tension and possible war situation in the region may pose risks to the energy infrastructure, which is also likely to have an impact on the supply chain.
He hoped that the energy supply situation would improve by April and the country would not face any major crisis. He clarified that government’s top priority is to put minimal financial pressure on the people and effective steps are being taken at various levels for this purpose. Government is following a serious and comprehensive strategy to keep the economy stable despite limited resources, he vowed.
Finance Minister said that resources are not unlimited, therefore it is necessary to find sustainable and long-lasting solutions. In this regard, consideration is being given to promoting demand management, efficient use of energy and saving measures to reduce unnecessary consumption.
Muhammad Aurangzeb asserted that a targeted relief package is being prepared for the deserving and low-income groups, which aims to reduce the effects of inflation and provide facilities to the real needy.
He invited the public, economists and relevant stakeholders to send their suggestions to the government so that better and effective policymaking could be made possible. He also referred to the fact that Prime Minister Shehbaz Sharif, in his recent address, has shared in detail the economic and energy challenges facing the nation and the government is taking all possible measures to solve these problems.
The Federal Finance Minister extended his heartfelt greetings to the entire nation on the occasion of Eid-ul-Fitr and prayed for sustainable stability, development and security in the country. He expressed the optimism that through joint efforts and responsible behavior, Pakistan will successfully deal with the current challenges.