ISLAMABAD: Federal Minister for Petroleum Ali Pervaiz Malik, while explaining the reason for not reducing the price of petrol, said that after the prices stabilize in the global market, further relief will be transferred to the public immediately.
According to the details, the government is facing severe criticism for not getting relief to the public at the local level despite a significant reduction in crude oil prices in the global market.
In response to this public concern, Federal Minister for Petroleum Ali Pervaiz Malik issued a clarification statement on the social media platform ‘X’ (Twitter) and explained the real reasons for the price hike and the government’s stance.
Brent crude has become cheaper by $9.69, WTI by $8.53 and Arab Light by $4.14 per barrel in the last one week.
In this regard, the Petroleum Minister explained that the public and refineries use crude oil, while refined petrol and diesel reach consumers, the prices of which are compared on a weekly basis.
On June 22 this month, petrol was $98.35 per barrel in the global market, which decreased to $91.68 on June 26, while diesel was $109 per barrel on June 22, which decreased to $104.79 on June 26.
Ali Pervaiz Malik said that the government is neither giving priority to any specific sector nor is it putting any unnecessary burden on the people.
He clarified that all the readings of the last week have been released on social media and according to these readings, relief has already been given to the people. After the prices stabilize in the global market, further relief will be transferred to the people immediately.
Defending the past measures, the federal minister said that under the Prime Minister’s vision, the price of diesel has been reduced by a total of Rs200 and the price of petrol by more than Rs155.
He further said that the government had reduced the suffering of the people through the profits earned from the deals it had secured for refineries and targeted subsidies worth billions of rupees, and even today the levy on petroleum products has been kept low.
Read also: No Relief, No Hike: Petrol Prices Remain Unchanged
