Editor
Petroleum Minister Musadik Malik clarified that 66% of fuel shoppers stay unaffected by tariff will increase as a consequence of a tiered pricing system, including that indiscriminately reducing fuel costs would exacerbate the nation’s round debt.
Speaking at a parliamentary committee assembly chaired by Syed Mustafa Mehmood, Malik highlighted the need of balanced tariffs. “If we promote fuel cheaply, the round debt will increase,” he famous, stressing that focused subsidies assist handle losses whereas defending low-income teams.
Malik additionally touched upon the administration of state-owned petroleum firms, noting that three companies have been transferred to a sovereign wealth fund. This transfer sparked questions from committee members, notably Naveed Qamar, who inquired whether or not the finance ministry supposed to dissolve the fund. Malik denied any such plans, affirming that there’s been no indication from the federal government to take action.
Discussing investments within the gemstone sector, the minister revealed ongoing work to advertise the business, with a give attention to expertise switch and expert workforce growth. He talked about {that a} coverage masking Gilgit-Baltistan (G-B) and Azad Jammu and Kashmir (AJK) is in progress, with the purpose to curb smuggling and improve worth addition.
On fuel provide, Malik acknowledged vital challenges, particularly in Balochistan, the place theft and outdated infrastructure stay persistent points. He outlined steps being taken to interchange ageing pipelines and clamp down on theft-prone areas, noting that the federal government had “locked down” the highest 5 areas infamous for fuel pilferage.
In response to a query about fuel distribution, Malik emphasised that tiered tariffs enable for equitable pricing throughout varied revenue ranges. He reiterated that regardless of the complexities, 66% of shoppers bear no extra tariff burden, permitting the federal government to regulate losses and keep away from worsening the monetary pressure.
