ISLAMABAD: Minister for Petroleum and Natural Resources Dr Asim Hussain on Thursday said that the ministry of petroleum was not empowered to ramp up the prices of petroleum products.
“It is Oil and Gas Regulatory Authority (Ogra), which takes up such matters. Ministry of Petroleum only receives summary from Ogra and forwards it to finance ministry for approval,” he added.
He said the increase in petroleum prices in Pakistan was the result of the hike in international oil prices. He said that there was an urgent need to seriously take up the issue of energy fixation in the house.
“We must have a rational energy policy. I will request all members to sit together for deliberation on the issue. If we will not correct our direction; we will be heading towards destruction,” he said.
Dr Asim said that the government would welcome the reactivation of the parliamentary committee for fixation of petroleum prices.
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