business
September 16, 2017
Growing petroleum demand offsets benefits of low world oil prices
ISLAMABAD: Government’s decision to keep oil prices unchanged led to more than 25 percent increase in gasoline consumption during the last fiscal year of 2016/17, but soft international oil prices couldn’t translate into any larger benefits to the economy, a senior finance ministry’s official said on Friday. “And, so we have convinced the government that the keeping oil prices unchanged is a flawed policy that needs to be changed as we have already evaporated...