ISLAMABAD, Dec 30: Federal Minister for Petroleum and Natural Resources Chaudhry Nauroz Shakoor Khan said on Monday that the government would review petroleum prices and all unnecessary levies on petroleum products would be removed.

The minister was asked to comment by newsmen at the Parliament House on the petroleum development levy which alone was generating Rs35 billion annually but causing hardship to the consumers.

Nauroz Shakoor defended the fortnightly adjustment of petroleum prices, saying the system intended to pass on the benefit of price reduction to the consumers.

The minister said that the government could not order bulk imports, as the country’s storage capacity was limited. Besides, it would also go contrary to the interest of the ordinary people because the government would have to book the order on a particular price.