Pakistan has allocated approximately $268 million in fuel subsidies aimed at assisting over 10 million low-income individuals, Prime Minister Shehbaz Sharif announced on Friday. The relief program targets motorcycle riders, rickshaw drivers, and small-car owners, groups considered vulnerable to the rising energy costs impacting household budgets.

This latest figure represents an increase from the more than 9 million beneficiaries reported earlier in the week. The government’s subsidy effort is part of broader measures to alleviate the economic pressure resulting from heightened fuel prices, driven in part by the ongoing conflict between the United States and Iran.

In a televised address, Sharif emphasized the government's commitment to continuing support for those most affected by surging energy expenses. The allocated sum, totaling 75 billion Pakistani rupees, is intended to provide targeted discounts on fuel to help ease the financial strain on lower-income populations.

The announcement follows progress in Pakistan’s negotiations with the International Monetary Fund (IMF). On Thursday, the IMF reached a staff-level agreement with Pakistan on a new financial arrangement that could release approximately $1.2 billion in funding, pending approval by the fund’s executive board. This agreement is expected to bolster Pakistan’s economic stability amid ongoing energy challenges and broader fiscal pressures.

The Prime Minister’s announcement underscores Islamabad’s efforts to balance subsidy outlays with economic reforms and international financial support to mitigate the ripple effects of global geopolitical tensions on domestic energy supplies and prices.