Govt. does not determine POL prices, OGRA does

Govt. does not determine POL prices, OGRA does

Islamabad: (Thursday, February 02, 2012) Minister for Petroleum, Dr. Asim Hussain, in reply to MQM leader Abdul Qadir Khanzada’s proposal in National Assembly to create a formula for determining the POL prices, has said that they
will welcome any such formula.

Stressing on his point, Muttahida Qaumi Movement’s Khanzada expressed his concern over recent price hikes and suggested to form a formula applying which price hikes will not affect much the masses.

He was of the view that government should immediately take steps for providing relief to the people.

Replying to which, Dr. Asim said, “We would have no objection if the parliament forms a committee to control Oil and Gas Regulatory Authority (OGRA).”

He was of the view that it was OGRA’s job to determine POL prices and the government had no interference in that. He said, “I know the formula used for price determination but the Petroleum Ministry has nothing to do with the revision
of prices.”

He also added that no increase was introduced in the gas tarrif for domestic or commercial consumers. He said that only a nominal increase of 36 paisa was made to set the CNG rates.

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Posted by Fayyaz Yaseen on Feb 2 2012. Filed under Latest News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry