News
Saturday, January 01, 2011
Govt has nothing to do with POL prices: Kaira
ISLAMABAD: Federal Minister for Information and Broadcasting Qamar Zaman Kaira said on Friday that the government had nothing to do with petroleum prices, which, he said were not only increasing in Pakistan, but globally. He said the government did not set the petroleum prices, as these were adjusted under a set formula. Prices of petroleum products were fixed by the Oil and Gas Regulatory Authority (OGRA), an autonomous regulatory body, he added. He said, during November, average price of crude oil in the international market was $74 per barrel which has reached $96. The international market price difference was adjusted accordingly, he said, adding the prices were not only being adjusted in Pakistan, but it was an international trend, as even in oil producing countries, the petroleum prices were noticing an upward trend. app
Courtesy www.dailytimes.com.pk