Monday June 17, 2024

No decision on POL prices for second day

By Israr Khan
September 17, 2022
Photo File
Photo File

ISLAMABAD: The government’s indecision on fixing petroleum products prices for next fortnight has left the general public and business community confused and again it has been delayed for the second day and nobody in the government machinery is sure whether it will decide the prices or not.

Interestingly, Petroleum Division and Finance Division both are clueless, nobody is ready to talk and waiting for Prime Minister to come as he is out of the country. No official statement has been issued from these ministries that why the prices were not revised.

Normally, the government decides prices at the end of each fortnight for the coming fortnight, but this time when the prices were supposed to be revised before 12:00 pm on Sept 15, 2022, no decision was made. And today, again till midnight, no decision was taken.

The indecisiveness of the government left the general public, the business community, and even the oil marketing companies (OMCs) confused. At the time of filing this story, this is the second day, and no decision has been issued by the Finance Division.

“The oil and Gas Regulatory Authority (OGRA) sends us the summary on oil prices, we then forward it to the Ministry of Finance which then takes final decision from Prime Minister,” an official of the Petroleum Division said. He said, “We have nothing to do with the determination of prices.” He however said, “This indecisiveness may be due to no presence of Prime Minister in the country.”

On contacting the Ogra official, he said we just calculate the price and suggest it to the government, the Finance Ministry on PM’s approval decides to increase, decrease or keep them unchanged.

Another official said that the decision is with the Finance Division and Prime Minister House, we have no information that why the prices have been not decided so far. However, there is the possibility that the government may reduce petrol prices and increase diesel prices.

The News has already reported that the price of petrol may decrease by Rs9.62 per litre to Rs226.36 per litre from Rs235.98 and diesel may go up by Rs3.04 per litre to Rs250.30 from Rs247.26 per litre.