Pakistan PM announces reduction in petrol prices by Rs10

Islamabad: Prime Minister Imran Khan on Monday announced slashing the price of petroleum products (oil and diesel) by Rs10 and electricity tariff by Rs5 per unit to bring some relief to the consumers hit by rising inflation.

“We have also decided to decrease electricity prices by Rs5 per unit which means that there will be a 20-25 per cent decrease in your electricity bills.” He also said that there would be no increase in petrol and electricity prices until the next budget.

The prime minister described the announcement as “good news for Pakistanis” in an address to the nation in which he detailed the challenges, as well as the measures government has executed to create jobs and drive economic growth.

The oil and electricity prices were slashed at a time when the government is facing severe opposition from opposition over inflation. The Pakistani opposition alliance has planned a no-confidence motion to dislodge the prime minister and Pakistan Peoples Party (PPP) chairman Bilawal Bhutto Zardari has started a protest march towards the federal capital from Karachi to show that Imran Khan’s government had lost the nation’s trust.

Independent foreign policy

Pakistan’s prime minister said that he desires “a free and independent foreign policy for Pakistan that benefits the country and its people.” Citing the example of Russian billionaires, whose assets have been frozen by the West since the attack in Ukraine, he urged Pakistanis citizens to vote for a party whose leader do not have properties and assets abroad and who strive for an independent foreign policy.

Measures to support people

In his speech, Khan also said that the cash handouts given to the poorest families under the social protection Ehsaas programme have been increased from Rs12,000 to Rs14,000. He also said that skill-based internships for youth graduates would be offered internships worth Rs30,000 for six months.

The government would offer the biggest support to the IT sector, large-scale manufacturing and constriction sector. The IT sector, which included companies and freelancers, have been exempted from taxes and IT startups no longer have to pay capital gains tax, he said. Overseas Pakistanis who invest in the industrial sector or carry out a joint venture would be offered a five-year tax holiday, he said.

PM supports PECA ordinance

The premier also defended the amendments to the Pakistan Electronic Crimes Act (Peca), 2016, saying the law was introduced in 2016 and his government is only amending it. Khan dismissed the criticism that it was being used to restrict media freedom and said that the law is aimed at curbing fake news, defamation, hate speech and immoral activities such as child pornography being shared on social media.