Home » Business » Govt to cost the wealthy Rs100 extra for gasoline to finance subsidy for the poor: Musadik Malik

Govt to cost the wealthy Rs100 extra for gasoline to finance subsidy for the poor: Musadik Malik

by Pakistan Latest News Update

Minister of State for Petroleum Musadik Masood Malik mentioned on Monday that the federal government will cost Rs100 extra for petrol from the prosperous in order that reduction might be supplied to the low-income segments in gasoline tariff.

“We will make petrol expensive for the rich and cheaper for the poor … the higher prices being paid by the rich will be used to provide subsidised petrol to the low-income segment,” he mentioned in a press convention as we speak.
Malik’s assertion comes a day after Prime Minister Shehbaz Sharif introduced a reduction bundle for the poor beneath which a subsidy of Rs50 might be given to them on each litre of petrol.
After presiding over a overview assembly on the reduction bundle, the premier had mentioned that the reduction could be given to these low-income shoppers who’ve bikes, rickshaws, 800cc vehicles or different small vehicles.
Elaborating on the subsidy as we speak, Malik mentioned PM Shehbaz had ordered the ministry to extend the subsidy to Rs100. “The rich will be charged Rs100 more and the poor will be charged Rs100 less.”
He revealed that the petroleum subsidy programme could be applied inside the subsequent six weeks with none provision of subsidies.
The financing for the scheme, the minister continued, could be accommodated by the tax fee that the higher-income section could be paying.
Malik recalled {that a} related mechanism had been earlier utilized within the gasoline tariffs as effectively, beneath which the payments for the poor had been diminished by 3 times as in comparison with these of the wealthy.
“A week back, the prime minister and Nawaz Sharif instructed us to separate the petrol price for the rich and poor … hence, as per these orders, we presented a scheme to the premier yesterday,” he mentioned.
Malik added that all the foundation of the subsidy was that individuals who had been residing in palaces and driving costly automobiles pay a justifiable share for the commodities.
“We will take from those who have been blessed by God and give it to those who are striving to feed their families. This is our policy and it will be reflected in everything else as well,” he added.

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