Islamabad(August 24, 2018): Minister for Petroleum Ghulam Sarwar Khan on Friday assured that the petroleum prices and taxes will be reviewed and fix it in accordance with the international market prices.
Addressing a press conference, he said that the ministry will particularly review the price of diesel and ensure to make its price at par with the price of petrol which was cheaper than petrol before 2004 and now its price is higher than the petrol.
He said that efforts will be made to improve the local production of refined and crude petroleum products which is presently at 15 percent against 85 percent of imports. He added the ministry will strengthen the role of OGDCL to improve local production.
He said that Pakistan Petroleum Limited (PPL) has discovered new oil exploration of 23 Million Cubic Feet per Day (MMCFD) at District Sanghar of Sindh with the production of 91 barrels per day. He said that country has rich oil resources, which will be focused on and explored in the coming days for improving local production.
Replying to a question, he said that all major agreements particularly those which were hidden will be examined and placed on the ministry’s official website. He added the ministry will examine itself all such agreements before any step of the National Accountability Bureau (NAB).
He said that in line with the policies of Prime Minister Imran Khan, efforts will be made to minimize the expenditures to protect the available resources while steps will also be taken to further minimize the line losses and other leakages in the petroleum sector.
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