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How can Pakistan afford to reduce Petroleum Product Prices?

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December 16, 2022 and it takes only 7 minutes to read.

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Despite reducing petrol prices, the government is still meeting its obligations for the Levy on petroleum prices. It is possible for the government of Pakistan to reduce the price of petroleum products, even if it is facing financial difficulties. Same way Imran did by doing it for Rs 150 Per Litre just before he was ousted. Also, Shahbaz Sharif laid the foundation of the Sukkur-Hyderabad motorway worth Rs.300B just the day before yesterday. So the kitty may not be completely empty.

One way the current Government could do this is by subsidizing the cost of these products. This means that the government would pay a portion of the cost of the products, effectively reducing the price for consumers. The government could also choose to reduce the taxes on petroleum products, which would also lower the price for consumers.

READ: Legal Complexity: Afghan Repatriation

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