PAC Calls for a Reduction in Fuel Prices: Report

Public Accounts Committee (PAC) has asked the government to reduce petroleum product prices. In a meeting called by PAC Chairman Noor Alam Khan, it was highlighted that international petroleum prices have fallen twice over the last few weeks.

PMLN member Sheikh Rohail Asghar rebutted that global oil prices have fallen by only Rs. 50 per liter. Chairman PAC Noor Alam Khan also remarked that the Ministry of Finance, Petroleum Division, and the government are yet to offer any relief to the public.

Background

Before May 26, the prices of petrol and high-speed diesel were Rs. 149.86 and Rs. 144.15 per liter, while those of kerosene and light diesel oil were Rs. 125.56 and Rs. 118.31 per liter, respectively.

Due to International Monetary Funds’ (IMF) insistence to abolish the subsidies on petroleum products, the government increased the prices of all petroleum products by Rs. 30 per liter on May 26.

Since then, the government has announced two more price hikes, following which, the prices of petrol and high-speed diesel have reached Rs. 248.74 per liter and Rs. 276.54 per liter, while those of kerosene oil and light diesel fuel have reached Rs. 230.26 per liter and Rs. 226.15 per liter respectively.