Pakistan Petrol Prices May Reach Rs 1,000 Per Litre: Minister Warns

The price of petrol in Pakistan could reach up to Rs 1,000 per litre, Petroleum Minister Ali Pervaiz Malik said on Sunday. According to the minister, the price could go up further if there is a shortage of petrol in the country. According to the minister, petrol in Pakistan has become costlier by about 50 per cent so far. Currently, petrol is priced at Rs 389 per litre and diesel at Rs 424 per litre. If the price of petrol reaches Rs 1,000 per litre, it will be about Rs 346 per litre in Indian currency. The price of crude oil in the world is rising due to fighting in the Middle East. The war began on February 28. On that day, petrol in Pakistan was 258.17 rupees per litre. Since then, it has increased by Rs 131, which is about 51 per cent. Amid rising prices, the Pakistan government has launched a subsidy scheme on petrol for bikes, rickshaws and cars up to 800 cc. Petrol is subsidised up to Rs 100 per litre. Every eligible person will get a subsidy of Rs 500 every month. As per the scheme, motorcycle tokens will be issued by the government on January 1, 2006. About 17 lakh people have registered for the scheme.