Islamabad : In order to provide relief to masses, the government on Friday announced to substantial reduction in the price of Petroleum products and CNG.
Addressing a news conference, Minister for Petroleum Dr. Asim Hussain and Information Minister Qamar Zaman Kaira said following the directives of President and the Prime Minister, decision to reduce POL and CNG prices has been taken to benefit common man.
They said that now the price of HOBC’s- Rs.113.32 per litre, Petrol- Rs. 89.81 per litre, High Speed Diesel- Rs.99.69 per litre, Light Diesel- Rs.86.57 per litre, Kerosene Oil- Rs.88.79 per litre. The prices of CNG has also been decreased.
For CNG prices, Qamar Zaman Kaira said the price for Region One ( Potohar Khyber Pakhtoonkhwa and Balochistan) would be reduced by 4.82 rupees a kilogram and for Region Two (Central Punjab and Sindh) 4.37 rupee a kilogram. He said the Ministry of Petroleum and Natural Resources have approved these downward adjustment in prices of oil and gas. He urged provincial governments to review downward fares of transport so that the benefit of the relief trickles down to the common man.
He said that according to ECC’s decision, prices of POL would be reviewed after fifteen days. He said Bhasha dam and Neelum projects were launched during the incumbent government. He said that Thar Coal entity was also resolved by the present government. He said cheap electricity could be produced by coal and water. He was of the view that demand of power has been increased due to scorching heat. He further said that government bridges the gap between electricity’s sale and purchase.
Petorluem Minsiter siad that meeting for LNG would be held soon. He said country was facing one billion dollar loss due to lack of availability of LNG gas. He said that prices of Furnace oil would be decreased which would help less production cost.
Replying to a question, Minister for Petroleum said the price of furnace oil has also went down and this would help bring down the fuel adjustment charges for electricity.