Petroleum products' prices in Pakistan lowest in South Asia: NA informed

Petroleum products' prices in Pakistan lowest in South Asia: NA informed

ISLAMABAD-Minister for Power and Petroleum Omar Ayub has said the prices of petroleum products in Pakistan are lowest in the South Asian region despite the recent increase in their prices.

Speaking in the National Assembly on Saturday, he pointed out that the price of petrol has increased by 112 percent over the last forty six days in international oil market. He said the price of OPEC basket has increased by 46 percent last month.

The Minister said that the present government passed on the benefit of reduction in international oil prices to the consumers. He said we will move forward as per the up and down in the international oil market.

Regarding power sector, the Minister said loadshedding has been eliminated and currently it is being carried out only in feeders where losses are high. He said our focus is now on bringing improvement in the distribution and transmission system.  He said we are now pursuing clean and green projects in the energy sector.

Winding up discussion on the cut motions moved by the opposition against the demands for grants for Industries and Production Division, Minister for Industries and Production Hammad Azhar said the government will frame new auto policy next year after the expiry of existing one. He assured the new policy will focus on ensuring better safety standards in the vehicles and localization of the industry.

Regarding FATF, the Minister said the issue was mishandled by the previous government. He, however, said Pakistan has met the majority of the FATF conditions.

The House has approved five demands for grants relating to the Industries and Production after rejecting the cut motions moved by the opposition on them.