Ogra to decide petroleum product prices regularly: Ali Pervaiz Malik
Tos:
Islamabad:
Petroleum Minister Ali Pervaiz Malik said on Friday that the Oil and Gas Regulatory Authority (Ogra) would decide petroleum product prices regularly amid the ongoing Gulf tensions.
Addressing a press conference alongside Information Minister Attaullah Tarar, Malik said that the situation in the region appeared to be worsening. He said Ogra would determine petroleum prices on a daily basis, while the government would continue to review the matter regularly.
Malik said Prime Minister Shehbaz Sharif used Rs130 billion from federal resources to provide relief to the public. He thanked the people for bearing difficulties during the challenging period.
The petroleum minister said energy prices were also rising in the international market. He said petrol prices in the global market had reached close to $100 per barrel, while diesel prices had risen to $140 per barrel.He said the oil markets appeared to be facing a growing crisis. Malik said that Pakistan imports 90 per cent of its energy requirements.He said improvements were seen in sectors where the government had reduced its role. The petroleum minister said the targeted subsidy programme was still continuing.
