Federal Petroleum Minister Ali Pervez Malik has said the government cannot continue providing unconditional subsidies on expensive petrol, as rising global oil prices are placing a significant burden on the national economy.
He said the recent surge in international energy costs has created financial pressures running into thousands of billions of rupees.
The minister highlighted the scale of the global oil shock and its impact on Pakistan, where changes in international crude prices directly affect domestic fuel costs and the government’s fiscal position.
He indicated that maintaining large subsidies on petrol for an extended period would place additional pressure on public finances.
His remarks come as governments around the world continue to deal with volatility in international energy markets.
For Pakistan, higher oil prices can increase the cost of fuel imports and put pressure on inflation, transportation expenses and other sectors of the economy, making the management of fuel prices a major economic challenge.
