ISLAMABAD: Federal Minister for Petroleum Ali Pervaiz Malik on Sunday said the government would provide further relief to consumers once crude oil prices in the international market fall to $76 per barrel.
In his statement made to the media, the minister revealed that the government had already provided a subsidy of Rs130 billion to help the citizens and was keen to ensure that the citizens get benefit of low prices in international oil market.
“Once crude oil prices reach to the level of $76 in international markets, further relief will be provided by the government to citizens,” he remarked.
Ali Pervaiz Malik informed that the government was keeping an eye on the international trend of oil prices and that domestic prices of petrol and diesel had been decreased more than their decrease in international market.
The minister pointed out that the rise in prices of oil products had put burden on all citizens of the country but was hopeful that the tough period had gone and citizens will continue to get benefits of lowering prices.
The minister further expressed views on the Iran-Pakistan Gas Pipeline project and stated that the issue is pending in a court of law in Paris and Pakistan is taking the matter through legal process along with holding talks with the government of Iran to sort out the problems.
He congratulated President of Iran, Mr. Masoud Pezeshkian, for playing his part in bringing about the peace accord in Islamabad and reiterated the commitment of Pakistan to maintain constructive relationship with Iran.
The petroleum minister also appreciated the performance of law enforcement agencies and security institutions in maintaining peace during the month of Muharram.
