KARACHI, Jan 31: The Oil Companies Advisory Committee (OCAC) and the Oil Marketing Companies (OMCs) on Monday did not make any announcement regarding the prices of petroleum products.

In absence of any statements or verbal communication from the OCAC and OMCs, market people are assuming that the prices of all the petroleum products are likely to remain unchanged for the next fortnight from February 1-15, 2005.

Perhaps this is the first time that both the OCAC and OMCs have not intimated the print and electronic media regarding the price, which as scheduled to be announced on January 31, 2005.

Meanwhile many market analysts think that it is still not clear whether the OCAC or the OMCs will announce the rates of POL products on Tuesday or will refrain from making any announcement, leaving the consumers confused for next few days over the fortnightly price revision.

Officials in the OMCs, who usually contact the media persons on every fortnight, remained tight lipped on Monday, saying that they do not know about the price revision. They even did not know whether the meetings at their offices had been held or not to review the petroleum prices.

"The price revision for Monday (January 31, 2005) has been deferred," an official in the OMC said adding that this means that prices will remain unchanged for the next fortnight.

Media persons continued to ring up the OCAC offices but no one was there to receive the calls. Similarly the OMCs' offices were also silent. Meanwhile, market sources said that a meeting at the ministry of finance was held a day back in which it was decided to keep the prices of POL products unchanged for the current fortnight.

Because of the phenomenal rise in petroleum prices, the government has been under pressure this week over the price hike issue of PoL products. Another reason, market sources said, was that since the Senate session is starting from Tuesday and the opposition members are expected to make a hue and cry over petroleum prices that is why the government has decided to keep the prices unchanged for this fortnight in order to avoid the opposition criticism.