PAC Recommends Reduction in Petroleum Prices
In wake of reducing global oil prices, the Public Accounts Committee (PAC) has recommended a reduction in the prices of petroleum products to provide relief to the people. Presiding over the committee’s meeting, PAC Chairman Noor Alam Khan said that the price of petrol is decreasing in the global market.
“When the price is low in the world market, why it is not low in our country? When the price is higher in the world market, it goes up but does not go down.”
The chairman said that oil prices in the world have come down twice while the government has increased the prices instead of reducing them. He requested the Ministry of Finance, Petroleum Division and the government to provide relief to the people by reducing the prices of petroleum products.
However committee member Sheikh Rohail said that global oil prices have come down by Rs 50 per liter, but the International Monetary Fund (IMF) is calling on the government to increase the sales tax.