Federal Minister for Petroleum Omar Ayub says that petrol prices increased due to an increase in the international price of the commodity but despite the new price hike, fuel prices in Pakistan are lower than those of other Asian countries.
He said Pakistan doesn’t have its own resources and international prices have increased by 48% and, more recently, by 112%.
He said that petrol is selling for Rs100 in Pakistan while its equivalent price in Bangladesh and China is Rs138 or more. The prices are even higher in Japan and the Philippines.
He said that on January 1, petrol was selling for Rs116.07 per litre. Compared to January, today’s petrol price is still Rs16 cheaper and diesel is Rs26 cheaper.
“As soon as the prices of petroleum products fell in the international market, we reduced them. We did not impose any new tax on petroleum products. The government believes that it will go through fluctuations,” he explained.
Ayub said previous governments used to have windfalls during these times.
“We are against this policy. Clean and green energy is the priority of the government. The previous government generated electricity from expensive sources and we should prioritize power generation from renewable sources,” he said.
The minister also said that point scoring can be done but facts also need to be put in front of the people. In the past, previous governments reduced petrol prices by throwing Rs24 billion to build and maintain artificial reputations, he claimed.