ISLAMABAD: Federal Petroleum Minister Ali Pervaiz Malik has warned that petrol prices could increase further, saying fuel costs are rising under the prevailing circumstances and another hike cannot be ruled out.
The minister said the government must take the national interest into account when dealing with rising petroleum prices and should not be pressured into taking decisions that could compromise it.
Ali Pervaiz Malik said the government has already begun working on measures to provide relief to consumers. He added that the International Monetary Fund (IMF) is expected to visit Pakistan this month for its review, and he would ask his team to explore possible options for providing relief to the public.
The petroleum minister said the Oil and Gas Regulatory Authority (OGRA) determines petroleum prices through a transparent mechanism based on daily assessments. He maintained that the government’s decisions are made after considering relevant factors and are not taken arbitrarily.
He further said that tackling the country’s challenges requires cooperation between the government and the public.
Discussing the gas sector, Ali Pervaiz Malik said gas availability is currently one of the government’s major concerns. According to him, a $30 million gas cargo from Qatar is not being shipped, while arranging an alternative supply could cost around $100 million.
