Opposition demands withdrawal of increase in POL prices

Islamabad: Minister for Petroleum and Natural Resources Dr. Asim Hussain has offered that it is for the Parliament to withdraw GST or Petroleum Development Levy on POL products and gas to bring their prices down.

Responding to a number of adjournment motions moved by Prof. Khurshid Ahmad and other members in the Senate Wednesday, he said the members can also suggest alternative financial resources if they want subsidy on these products.

The Minister said the decision to raise prices of petroleum products and gas was unfortunate but the situation is not in the hands of the government.

He said Pakistan is producing only seventy thousand barrels of oil per day as against requirements of 380 thousand barrels.

The country is heavily dependent on import of crude oil and domestic prices have to reflect any change in the international market.

He said the OGRA calculates prices on the basis of change in the world fuel oil prices and rupee-dollar parity. The Chairman held the motions in order and the House would hold a debate on the matter. Members of the Opposition demanded immediate withdrawal of the increase and staged a token walk out from the House in protest.

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