Govt plans Rs23b subsidy for motorcycles, rickshaws from austerity savings

The government has decided to use Rs23 billion saved under its austerity drive to provide subsidies for motorcycles and rickshaws, 24NewsHD TV reported on Monday. 

The saving amount is expected to be distributed to eligible beneficiaries through data from the Benazir Income Support Programme (BISP).

According to sources, the development was shared by the Secretary Petroleum during a briefing to the Senate Standing Committee on Petroleum.

During the meeting, the petroleum secretary said the government had approved a plan to channel Rs23 billion in savings generated through austerity measures into a targeted subsidy programme for owners of motorcycles and rickshaws.

He told the committee that the subsidy would be provided to deserving individuals identified through BISP records.

He added the Oil and Gas Regulatory Authority (OGRA) and the Petroleum Division had already started working on the framework for the scheme.

The secretary said the subsidy model would be similar to the kind of targeted support provided during the COVID-19 period.

Separately, while briefing the committee on petroleum product reserves, the petroleum secretary said the country currently has 11 days of crude oil stocks, 21 days of diesel reserves, 27 days of petrol stocks, 9 days of LPG reserves, and 14 days of JP-1 fuel availability.