ISLAMABAD: Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi on Thursday hinted at the possibility of Rs5 reduction in prices of petroleum products for the next month.
“According to my assessment it (price) can be more or less Rs 5, it is not final yet,” he said.
However, a summary was with the Oil and Gas Regulatory Authority (OGRA) that would finally determine the prices in its monthly-revision exercise, Abbasi said while replying to a query of National Assembly Standing Committee on Petroleum and Natural Resources.
The committee meeting was held under the chairmanship of Chaudhry Bilal Ahmed Virk and attended by member lawmakers, besides senior officials of the ministry and Oil and Gas Development Company Limited (OGDCL).
Giving a brief comparison with fuel prices in neighbouring countries, Abbasi said “petrol price in Pakistan is Rs76 as compared to 96 and 125 in India and Bangladesh respectively”.
He said the government has reduced Rs40 per liter since the downward trend started in world market, and its maximum benefit was passed on to the common man.
