ISLAMABAD: Prime Minister Shahid Khaqan Abbasi on Monday apprised the National Assembly that the prices of petroleum products were the lowest in Pakistan as compared to other oil importing countries.
He was responding to a calling-attention notice in the National Assembly moved by lawmakers of the Muttahida Qaumi Movement regarding the increase in prices of petroleum products by Rs 4 per litre.
The prime minister said that fuel prices were fixed on a monthly basis as cargoes of petrol and diesel reached every month. He said that prices fluctuated on the basis of international prices and it was up to the government to shift the effect of prices or absorb it.
The premier said there was simple formula to calculate the prices of petroleum products here as international prices were fixed on a monthly basis. “One can easily assume about the new prices each month on the basis of this formula,” he maintained.
Abbasi said that Pakistan had the lowest prices among all the oil importing countries and even 30 per cent lesser than the neighboring countries.
He further said that price of petrol was Rs 110 per litre in May 2013 which was very low today.
The PM said the government made maximum efforts to absorb the effect of oil prices in international market and reiterated that the prices were comparatively lesser here.
He said the OGRA had suggested Rs 19 per litre increase in the price of kerosene oil, but it was increased by Rs 4 per litre as the government had absorbed the rest of the effect.
