Daily Fuel Price Changes Are Needed to Prevent Large-Scale Hoarding: Petroleum Minister
Ali Pervaiz Malik tells the National Assembly Standing Committee on Petroleum that OGRA determines prices daily, and that the petroleum levy target was set in the budget.
Petroleum Minister Ali Pervaiz Malik says daily fuel price changes are necessary to prevent large-scale hoarding, as OGRA determines prices every day.
Petroleum Minister Ali Pervaiz Malik has said that daily changes in petroleum prices are necessary to prevent the risk of large-scale hoarding. He was speaking at a meeting of the National Assembly Standing Committee on Petroleum on Thursday, where he explained that the Oil and Gas Regulatory Authority (OGRA) currently determines petroleum prices on a daily basis.
On the Petroleum Levy
Responding to a question from committee member Asad Alam Niazi about the levy on petrol and diesel, the minister said the issue was beyond his authority and could be changed only after consultation with international parties. He said a levy target had been set in the budget, and that all members of the National Assembly had voted for it.
On Deregulation
Committee member Syed Naveed Qamar asked why the government was not deregulating petroleum products. The minister said OGRA currently sets the prices daily under the existing system.
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