At last some relief for the people!

By
fraaz
-
11
187

With elections in sight, the government on Friday decided to bring down jacked up petroleum and CNG prices that worsened inflation and fuelled the fury of citizens over the past several months.
Usually the change in POL prices is broadcasted through a late night notification by the Oil and Gas Regulatory Authority (OGRA), however what appeared to be a step to gain political mileage, a hurriedly called press conference by Petroleum Minister Dr Asim Hussain and Information Minister Qamar Zaman Kaira announced the reduced prices on Friday evening. The new prices will be in effect from June 16.
The price of petrol has been lowered by Rs 10.46 per litre, High Octane Blended Component (HOBC) by Rs 11.75 per litre, kerosene oil by Rs 5.26 per litre, High Speed Diesel (HSD) by Rs 6.08 per litre, and Light Diesel Oil (LDO) by Rs 5.02 per litre. Along with a cut in petroleum prices, the government has also slashed the price of CNG by Rs 4.82 per kg in Balochistan, Khyber Pakhtunkhwa and Potohar, and by Rs 4.37 in Sindh and Punjab.
The petroleum minister said that the Economic Coordination Committee (ECC) had decided to review oil and CNG prices on fortnightly basis to provide relief to the consumers. “If the fortnightly mechanism proved successful, then the review of oil prices on weekly basis will be introduced,” he said. The minister said that the government had also fixed the price of CNG at 60 percent parity of petrol for one year after consulting the CNG associations. He said that power consumers would also get relief with reduced POL prices.
Answering a question on slow progress on Liquid Natural Gas (LNG) imports, the minister said that the country was facing a loss of $1 billion per annum for not timely importing the commodity. He said the rate of imported gas ranged between $14 and $16 per MMBTU, whereas the rate of local reserves was $4 per MMBTU. Stressing for expediting gas imports, he said the two major gas reserves of Pakistan at Qadirpur and Sui would deplete by year 2020. He claimed that during his tenure in office, about 700-800 mmcfd gas was added in the national transmission system, and another 300 mmcfd would be added by the end of this year.

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11 COMMENTS

    • Exactly……nd what about electricity tariff, that was at that time?

      I would like to thank the government, they ensure we do not get continual hours of electricity, as majority of our nation is not in a position to pay for a 24/7 and 30 day continual electricity charge anymore!

  2. Congrats. We Indians are suffering the most with our govt. Petrol is 72 Rs per litre in India. Guys pray for us.

  5. Welcome to the drama of Election 2012 Campaign by PPP ! Time to pull our the 250 billion PKR reserved int he budget to make people "feel" happy till Feb, 2013!! The load shedding will vanish in couple of months as well when government will "generously" release a few billion rupees to IPPs to start rolling the generators ……. again!! We saw all of this drama in late 2007 too when, despite oil touching its peak in the international market, Mushi's government kept Diesel at PKR 38!! The biggest question that i have to these Malik Riaz fed Jiala politicians is that the oil prices have been going depressed for the last one month then why now, after making all the buck for 30 days out of people's pocket, have they decided to reduce the price only at a time when the Malik's fiasco has crashed altogether!! Excluding Jialas, i request all of you to please think twice before voting these idiots! Musi sponsored the same "party", which, when concluded in 2008, caused Pakistan its worst financial crisis! Dollar nose dived to PKR 85 from PKR 60 in couple of months! Stock market index dropped to 4000 from 15000 and Pakistan landed into, yet another, IMF programe! For those stubborn among you who will still vote Sharif, Maulvis or Jialas, my advise is please start hoarding the dollars!!! 1 USD = PKR 125! Welcome September 2012!!

    • Good logical points, though I hope your predictions donot come true.

      THe only way to break free is to hang Gilani, Zardari & Sharifs & some kind soul send Altaf Hussain to hell.

  7. i dont know but are we nuts…. when we'll understand the typical again and again played tactics of these pathetic governments… Now they are manipulating for the upcoming elections after screwing us for the last 4 years.. HUH

  8. TOTAL ELECTION FRAUD AFTER PLUNDERING THE POOR BY TEN TRILLION RUPEES BY CORRUPT COALITION RULERS;PPPZARDARI,MQM,ANP,MLC WHEN PRICES OF PETROLEUM PRODUCTS 40 PERCENT LOWER IN WORLD MARKETS AND SO CNG,COMMODITIES.IT IS FRAUD.THEY INCREASED PRICES BY 50-60 RUPEES AND NOW REDUCE LITTLE.THEY MUST REDUCE ELECTRICITY PRICES BY RS 7/PER UNIT,CNG SHOULD BE BROUGHT TO RS50.PETROL TO 60RS PER LITER.THIS CORRUPT COALITION MAFIA HAS THUGGED POOR BY TEN TRILLION RUPEES WHICH MUST BE RECOVERED

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