Petroleum Prices Reduced By Rs 47.54 Per Litre Since May: NA Told

ISLAMABAD, (UrduPoint / Pakistan Point News - 12th Sep, 2024) Minister for Petroleum Division Dr Musadik Masood Malik on Thursday apprised the National Assembly that petroleum prices in the country had witnessed Rs 47.54 per litre decrease since May.

Responding to various questions, the minister said, "Pakistan purchases fuel at international market rate, however, we get some discount on its premier."

"Under an agreement, we are purchasing diesel from Kuwait at international rate with discount on premier. Sometime, we get relaxation in payment period of the fuel cost from friendly countries", he added.

The minister said fuel prices were directly linked with the international market, besides dollar-rupee parity.

Since the inception of incumbent government, the Pakistani rupee had stabilized against Dollar, he added.

Musadik said the benefit of reduction in fuel prices at international market were always passed on to the people.

The minister said the government was making efforts to bring retailers and wholesalers under tax net gradually so petroleum levy could be minimized. With increase in tax to GDP ratio, the rate of petroleum levy would decrease, he added.

To a question, he said that as per policy, the stock of petrol-diesel was always maintained in the country to meet 21 days' requirement.

APP/raz-zah