Preparations to End Govt Authority to Fix Petroleum Prices

Preparations have been made to end the government’s authority to set petroleum prices in the country and give it to oil marketing companies.

According to sources, significant progress has been made in deregulating the prices of petroleum products. Prime Minister Shehbaz Sharif directed to end the government’s authority to set prices, after which the Minister of Petroleum has called an important meeting today.

There will be a levy of Rs 20 to Rs 25 per liter on petrol

The government is preparing to give oil marketing companies the power to fix prices in a phased manner. In this regard, Chairman Ogra has been directed to prepare an action and impact plan to deregulate prices. The final framework for deregulating the prices of petroleum products will be presented to the Prime Minister.

Sources said petroleum dealers had opposed allowing oil marketing companies to fix prices. He took the stand that there is a fear of illegal profiteering if the oil marketing companies are given open permission.