Prime Minister Shehbaz Sharif on Friday issued special directives for immediate inclusion of 20-year-old motorcycles, rickshaws, and Qingqi rickshaws in the PM's Fuel Relief Scheme. A statement issued by the PM's Office said after the special directions, all motorcycles, rickshaws, and Qingqi rickshaws registered post-January 1, 2006, will be eligible for registration under the scheme. People using 20-year-old motorcycles, rickshaws, and Qingqi rickshaws will also be eligible.
Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar also chaired a meeting of the National Steering Committee on Fuel Subsidy to review the implementation of the Prime Minister's Special Relief Scheme and consider measures in light of public feedback received during the first 48 hours of its nationwide rollout, a statement issued by the Office of the Deputy Prime Minister said. Taking into account citizens' feedback, the prime minister has approved two measures for motorcycles, three-wheelers and rickshaws: The requirement to purchase a minimum of five liters in a single transaction has been removed.
Beneficiaries will now receive a weekly token of Rs500, which may be redeemed for fuel in any quantity, enabling citizens purchasing smaller quantities to benefit from the scheme. The eligibility age limit has been extended from 15 years to 20 years for two wheelers and three wheelers. For four-wheelers up to 800cc, there is no change in the existing arrangement: one 10-litre token every 10 days, equivalent to three tokens per month.
The full value of the Rs500 token will be passed on to the consumer, and fuel stations shall not apply any deduction or service charge. The committee also reviewed progress on registration, token redemption and settlement of payments to fuel stations. Dar directed the State Bank of Pakistan to provide payment-status reports twice daily, at 11:00 AM and 7:00 PM, ensuring that any rejected transaction is identified along with the specific reason and rectified without delay.
He further directed that alternative arrangements be made for fuel stations in areas with limited or no internet connectivity, including Azad Jammu & Kashmir, Gilgit-Baltistan, Khyber Pakhtunkhwa and remote rural areas elsewhere. He emphasised that the scheme is intended to provide relief to vulnerable citizens and that no eligible beneficiary should be deprived of the facility due to their geographical location. The meeting was attended by the ministers for petroleum, economic affairs, information and broadcasting, and IT&T, minister of state for finance and revenue; SAPM Tariq Bajwa; deputy governor State Bank of Pakistan; chairman Ogra; secretary petroleum; additional chief secretaries of Punjab, Sindh, Khyber Pakhtunkhwa and Balochistan; and senior officials from AJK, GB, ICT, and relevant federal and provincial departments.
Meanwhile, Prime Minister Shehbaz Sharif on Friday expressed satisfaction over the State Bank of Pakistan's (State Bank of Pakistan (SBP)) foreign exchange reserves reaching a historic high of $21.4 billion, terming it another milestone towards economic stability. In a statement issued by the PM's Office, the prime minister expressed gratitude to Almighty Allah and said the increase in reserves reflected the sustained efforts of the economic team and the government's measures in the right direction, He said significant improvement in remittances and services exports, a better current account position and fiscal discipline had played an important role in strengthening the country's foreign exchange reserves.
The prime minister said Pakistan's successful return to international capital markets was also a manifestation of restored global confidence in the country's economy. He said the increase in foreign exchange reserves would strengthen the country's capacity to meet external payment obligations and enhance its ability to withstand global economic challenges. Shehbaz said a stable economic position would open new avenues for greater external confidence, investment and sustainable economic growth.
He paid tribute to Finance Minister Muhammad Aurangzeb, the State Bank of Pakistan (SBP) governor, the government's economic team and, in particular, overseas Pakistanis for their contributions to the achievement. The prime minister further noted that, unlike previous increases in foreign exchange reserves, the latest rise had not been driven by an increase in external borrowing but was primarily supported by the State Bank of Pakistan (SBP)'s purchase of foreign exchange.
He also noted that the State Bank of Pakistan (SBP) had significantly reduced its outstanding foreign exchange-related obligations, contributing to improvement in the country's reserves position.