Pakistani Premier announces relief package to ease the burden of Fuel prices hike

On 27th of May, Pakistan’s Premier Shahbaz Sharif said in a national speech that the government will launch a relief package to reduce the burden on the citizens due to rising fuel prices.

He said that Pakistan is currently facing the most serious economic crisis. In the past four years, the Pakistani government has carried a debt of 20 billion US dollars. In order to avoid Pakistan’s bankruptcy, it was necessary to increase fuel prices.

He said the government is launching a 2,800-crore PKR monthly bailout scheme, where each family will receive 2,000 rupees. Which will reach a total of 14 million Pakistani families, ultimately affecting about 85 million individuals, they will benefit from the program and in the long run hopefully counter the high inflation rate.

In order to meet the requirements of the International Monetary Fund to release bailout funds, Finance Minister of Pakistan announced that from the 27th, the national fuel price will be increased by 30 rupees, an increase of about 20%