Fuel station employee displays new prices of petroleum products at a fuel station in Karachi on Wednesday, August 01, 2012. Pakistan Oil and Gas Regulatory Authority (OGRA) were increased petroleum products and CNG prices by up to 8.9 percent due to the global rise in oil. (S.Imran Ali/PPI Images).
A Fuel station employee adjusts new prices of petroleum products in Karachi. – File Photo by PPI

ISLAMABAD: The National Assembly’s Standing Committee on Petroleum and Natural Resources on Monday demanded the devolution of the petroleum ministry and a price adjustment mechanism on a daily or monthly basis instead of the current weekly review, DawnNews reported.

The committee made the demand during its meeting held under the chairmanship of Engineer Tariq Khattak in Islamabad.

Khattak proposed that all provinces must have their own petroleum ministry as they had grown weary of the decisions of the federal ministry.

He said it was difficult to ensure decrease in petroleum prices even after the downward trend in the international market as there was no proper mechanism installed to review the prices of petroleum products in the country.

The committee, after declaring the weekly review mechanism of petroleum price as dictatorial, recommended that the review must be carried out on a daily or monthly basis.

The committee members also demanded to set petroleum prices to the July 31, 2012 level. They said that protests on hike in POL prices by political parties, public interest groups and other institutions, including the standing committees, fell on the petroleum ministry’s deaf ears.

Due to Prime Minister Raja Pervez Ashraf’s visit of the petroleum ministry, officials adjourned the meeting.

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Comments (6)

October 8, 2012 2:34 pm
Prices must be setup by monthly, not weekly. Zardari Government can not give his nation, at least put the prices on Monthly Bases...
October 8, 2012 1:54 pm
@raika45 Let's find out how daily fuel prices are managed in other countries.
Cyrus Howell
October 8, 2012 1:02 pm
Petrol prices are up around the world. Pakistan is not alone in price rises for petrol as a commodity.
October 8, 2012 1:07 pm
pray tell how they do it in the developed world when they fix the prices daily
October 8, 2012 12:00 pm
Petroleum station dealers do not pump oil from their ground to sell . They have to buy in advance at a set price.So pray tell me how can they set the price on a daily basis.I doubt that these stations have daily delivery.It is usually when the storage tanks are about to empty.
October 8, 2012 3:21 pm
Last months on and the 'awami hakoomat' is into thinking of various dictatorial mechanisms prevalent in the democratic setup. Too little, too late.. i don't see a writ of government, pump owners shut down the pumps as soon as the news breaks so that they can charge the higher prices on the stock, on the contrary prices go down and it takes like forever for the pumps to actually realize that new lower prices have taken effect! Another big scam is the 'rounding off'. Why do the pumps always round the ruppee amount upwards than downwards (e.g.149.21 is rounded as 150). is there an accounting of this rounding difference? if Paisa is no more a valid currency why are the rates set in Paisas, even if they are then the excess amount should be accounted for and should go to the government exchequer, if not returned to the public. Care for any legislation in this regard? Petroleum levy itself is pretty questionable, seems like it is the only revenue earning stream besides the utility bills, a robust FBR could have served a better purpose.
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