It was our compulsion to increase prices of POL products: Omar Ayub

ISLAMABAD (92 News) – Minister for Petroleum Omar Ayub has said that it was their compulsion to increase the petrol price as it increased by 112 percent in 46 days. Speaking in the National Assembly on Saturday, the petrol is still Rs17 per litre cheaper than its price in January. He said that the PML-N government had taken the petrol price from Rs74 to Rs108 per liter. “The PML-N had wasted Rs24 billion to maintain its artificial value,” he added. The minister said that costly electricity was produced during the past governments. The minister said that the government passed on the benefit of reduction in international oil prices to the consumers. “We will move forward as per the up and down in the international oil market.” Regarding the power sector, the minister said that loadshedding has been eliminated and currently it is being carried out only in feeders where losses are high. “Our focus is now on bringing improvement in the distribution and transmission system.” Omer Ayub said they are now pursuing clean and green projects in the energy sector. Federal Minister for Information Shibli Faraz said that they had to review the prices due to increase in the POL products in the international market. “Still there is less increase in Pakistan as compared to the region,” he said. Minister for Industries and Production Hammad Azhar said that the government would frame new auto policy next year after the expiry of existing one. He assured that the new policy will focus on ensuring better safety standards in the vehicles and localization of the industry. Minister of State for Parliamentary Affairs Ali Muhammad Khan said that expenditures of PM Office and PM House have significantly been cut over the last two years. “Rs474 million has been allocated for PM office during the current fiscal year. Of this, Rs137 million have been returned. There is no camp office of Prime Minister Imran Khan,” he said.