Pakistan Muslim League Nawaz (PMLN) Senator Afnan Ullah Khan Monday warned that the price of petrol could go as high as Rs. 1,000 per liter.
The senator made this claim during a meeting of the Senate Standing Committee on Petroleum that met under the chair of Senator Abdul Qadir.
Khan said that experts in the oil industry fear that oil prices could go as high as $390 a barrel in the international market. He added that this will take the price of petrol to Rs. 1,000 in Pakistan.
Senator Taj Haider also spoke on the occasion and said that the consumption of petrol has decreased by almost 30 percent since the hike in prices of petroleum products. He said that the fuel has become so expensive that people have parked their cars for the time being.
The senator also pointed out that as much as 30 percent of the natural gas produced in the country is wasted due to leakages in the system.
All Pakistan CNG Association (APCNGA) Chairman Ghiyas Abdullah Paracha briefed the committee on the prevailing gas crisis in the country. He said that the country is facing a serious balance of payments issue and it could be resolved with the promotion of CNG as an alternate fuel for vehicles.
He urged the committee to consider immediate restoration of gas supply to CNG stations of Punjab which are facing closure since December last year.
The committee recommended providing at least 200 million cubic feet per day (MMCFD) gas to the compressed natural gas (CNG) sector of the country.
The committee members protested against the non-participation of the Minister of Petroleum and Secretary Petroleum and said that in their absence the meeting is a waste of time.