The Economic Coordination Committee (ECC) has approved the revision of petroleum prices on weekly basis.
The ECC met under the chair of Finance Minister Abdul Hafeez Shaikh on Tuesday. The meeting approved weekly revision of petroleum prices, about 2 lac tones of urea import and the release of funds for water and power projects.
Earlier today, OGRA opposed the summary of petroleum ministry in today’s ECC meeting as it believed that determining oil prices on a weekly basis will provide an opportunity for hoarders and dealers to create artificial shortage of oil in the country.
