ISLAMABAD: State Minister for Petroleum Jam Kamal on Monday informed the Senate that prices of petroleum products are less in Pakistan as compared to neighboring countries.
Responding to an adjournment motion moved by Senators Mohammad Azam Khan Swati and Syed Tahir Hussain Mashhadi regarding the increase in prices of petroleum products, he said oil prices in India is Rs 116 per litre, Sri Lanka Rs 87, Bangladesh Rs 112, Nepal Rs 99 and Pakistan Rs 76.25.
He said that prices of petroleum products in Pakistan are linked with international market. He further said that internationally exploration activities had been curtailed due to decrease in the prices of petroleum products but in Pakistan exploration activities had not been curtailed.
Federal Minister for Commerce Muhammad Pervaiz Malik said that negotiation with China to improve Free Trade Agreement (FTA) is in final stage.
Responding to another adjournment motion moved by Mian Muhammad Ateeq Shaikh regarding non-profitability of FTAs with China he said Pakistan is not only the country which had trade deficit with China but there are several other countries facing same situation.