Islamabad: Following that of the Prime Minister announcement to reduce petrol and diesel price with Rs 10 per liter, the president of the Oil and Gas Regulatory Authority (OGRA) has called an urgent meeting of Oil Marketing Company (OMC) and Refineries a resolve their oil price problems.
Executive Director of OGRA (Accounting), Muhamamd Murtaza Chaudhry in a letter dated 01 March 2022 addressed to the Petroleum Secretary and General Manager (Oil), Petroleum Division stated that President OGRA wished to conduct a meeting on Wednesday (02 March 2022) to discuss oil price issues with senior well-informed level officers with the price problems.
OGRA has also requested the chairman of the advisory board of oil companies (OCAC), chief executives of PARCO, Pakistan Refinery Limited (PRL), Pakistan State Oil, Shell Pakistan, Gas and Oil, TOTAL PARCO and Cnergico President PK Ltd will attend the meeting to discuss the matter in detail.
Prime Minister Imran Khan, in a big initiative to protect the masses from impact of global inflationary trends, on Monday unveiled a great relief package including the reduction of Rs10 per liter in gasoline, diesel prices, Rs5 per unit cut in electricity tariff among other measures.
“The government has decided not to raise prices of petrol and diesel as well as electricity rates up to next budget”Said Imran Khan in his televised address to the nation.
According to sources, WTOs and refineries have serious concerns over that of the premier announcement to cut gas and get high speed diesel (HSD) price of Rs 10 per liter. It’s at resolve their concerns, the president of ORA has called an urgent meeting on Wednesday.
“This meeting would have discussed in detail of the former refinery price sale ex warehouse price etc and measures to compensate refineries and WTOs, “the sources said.
It is pertinent to mention that the impact is reportedly of Reduction of Rs10 per liter in gasoline and diesel prices would have a monthly impact of around Rs 15 billion based on average sales of about 1.5 billion liters.
