Petroleum ministry submits reply in price hike case


ISLAMABAD: Ministry of Petroleum submitted its reply in Islamabad High Court (IHC) regarding the increase in the price of petroleum products on Monday.

A bench of IHC presided by Justice Shaukat Aziz Siddiqui on Monday took up the petition filed against the price hike of petroleum products.

The petroleum ministry, in its reply, said that the prices are usually increased on the basis of international market rates and prices of petroleum products in Pakistan are lower than prices in Bangladesh, Sri Lanka and India.

The price of imported petroleum products is Rs 43 per liter whereas the price of petroleum products in Pakistan is Rs 73 per liter.

Petroleum ministry and OGRA sought one week time to submit a reply.

Court then issued a notice again, ordering petroleum ministry and OGRA to submit their replies within one week. The hearing was adjourned until February 20.