Govt determines petroleum products prices after OGRA’s calculation: Spokesman. July 18, 2020

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Govt determines petroleum products prices after OGRA’s calculation: Spokesman. July 18, 2020

         ISLAMABAD-The mandate of Oil and Gas Regulatory Authority (OGRA) was to calculate the prices of imported petroleum products, which were determined by the government, Petroleum Division spokesman Saturday said.

Reacting on a statement of Pakistan Muslim League-Nawaz MNA Ahsan Iqbal, the spokesman said it seemed that he [Ahsan] was unaware of the mechanism of petroleum prices determination. “It is the same mechanism which the previous governments had been practicing during their tenures.”

As per OGRA calculation, he said, on June 30, there was an increase of almost Rs31 in per litre price of petrol, but the government determined the rate after reducing Rs5.5 per litre against the authority’s worked out price.

In Pakistan, he said, petrol price was still the lowest as compared to other oil importing countries.

Commenting on an objection raised by Ahsan Iqbal about revising the petroleum prices on June 26, instead of July 1, the spokesman said there was no legal binding on the government in that regard.