Govt Refuses to Take Responsibility for Latest Increase in Fuel Prices

Petroleum Division officials on Monday blamed the sharp increase in petrol prices on the Rs. 117 per litre petroleum levy instead of government policies.

A meeting of the Senate Standing Committee on Petroleum was held today, where Petroleum Minister Ali Pervaiz Malik and senior officials from the Petroleum Division briefed members on fuel pricing and stock positions after the latest petrol bomb.

Saifullah Abro further demanded transparency on how fuel prices are determined and requested a written breakdown of taxes included in petroleum pricing.

Petroleum Division officials said the Rs. 117 per litre petroleum levy was the real reason behind the increase in petrol prices.

Abro questioned the government over petroleum stock levels as of February 28, and sounded alarm after the sharp Rs. 55 per litre increase in both petrol and diesel immediately after that date.

The minister and other Petroleum Division officials explained that after March 1, international prices rose. Diesel reached $285 per barrel and petrol rose to $150 per barrel.

They also added that Pakistan currently holds 30 days of petrol stock and 27 days of diesel reserves.

Petroleum Minister Ali Pervaiz Malik said the government had to procure petroleum products at higher prices to ensure adequate supply and maintain stock levels.

He added that Pakistan does not maintain strategic petroleum reserves.

The minister said data for all companies would be shared, adding that the Federal Investigation Agency (FIA) is also reviewing everything.

Committee member Aamir Chishti called for a full audit of all oil marketing companies, to which the minister revealed that an audit of all 42 oil marketing companies would be conducted.