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Federal cabinet delayed decision to increase petroleum prices

01 May, 2019

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The federal cabinet on Tuesday delayed the decision on a proposed summary for increasing the prices of petroleum products. Addressing a press conference along with Minister of Water Resources Faisal Vawda, Special Assistant to Prime Minister on Information and Broadcasting Firdous Ashiq Awan said the prime minister had directed to send the recommendation from the Oil and Gas Regulatory Authority (OGRA) to the Economic Coordination Council (ECC) to review the same in order to pass minimum burden to the people.

She said that from May 1, no change would be done in petroleum prices, and its decision would be made after the ECC recommendations. She also said that the cabinet had decided to observe office timings during the holy month of Ramazan from 10am to 4pm to ensure maximum relief to the faithfuls, observing fast without compromising their productivity, and added that a special Ramazan package would also be announced in next few days.

She said the OGRA had recommended to increase the prices of petroleum products by Rs 14 per litre, but the prime minster directed that it should be discussed in the ECC again and efforts be made to give maximum relief to the masses. She said that when the PTI came to power, prices of crude oil per barrel were about $47 to $53, but now it had crossed $77 per barrel.
 

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