ISLAMABAD: Another bad news for the country’s masses, who are already facing the worst inflation as the Chairman Oil and Gas Regulatory Authority (OGRA) has hinted that petrol prices will go up again from March 1.
According to sources, a meeting of the National Assembly’s Standing Committee on Petroleum was convened in Islamabad, in which PML-N members expressed their anger over the non-completion of gas projects.
The Secretary Petroleum Division said that two of our LNG cargoes were canceled out of which one cargo was arranged but the tender was found to be expensive. He said that the removal of the ban on gas schemes was being considered.
Chairman Oil and Gas Regulatory Authority (OGRA) Masroor Khan hinted at rising prices of petroleum products from March 1, saying that the rise in oil prices in 12 weeks was unprecedented.
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He said that if prices continue to go up, the burden will fall on the people. The rupee has also depreciated against the dollar, and the money coming into the treasury is being compromised.
Chairman Oil and Gas Regulatory Authority (OGRA) Masroor Khan further said that the burden of rising prices globally will fall on the people. The formula of oil prices has not changed, it is the same. The government is receiving 14 rupees petroleum levy while GST is zero.
