Pakistan tops in providing low-priced petroleum products among regional countries

Mar 04, 2021: Despite financial constraints and a substantial increase in the prices of petroleum products at the international market, the Pakistan Tehreek-i-Insaf (PTI) government has not passed on its impact to the common man by maintaining the rates at the lowest level as compared to regional countries.

Pakistan is standing atop in providing low-priced petroleum products for the welfare of its masses among regional countries, and on the 18th position in a list of 167 countries of the world, according to an official document available with APP.

The present petroleum rates in Pakistan are lowest in comparison to the regional countries including Sri Lanka, Nepal, Bangladesh, and India where the per liter price of petrol varies from $0.83 to $1.26, while the commodity in Pakistan is available at $0.70 per liter.

As per a comparative statement, the price of per liter petrol in Pakistan is $0.70, Sri Lanka $0.83, Nepal $0.95, Bangladesh $1.05, India $1.26, China $1.03, United Kingdom $1.70, and Germany $1.64.

Meanwhile, a senior official privy to petroleum sector developments told APP that petrol rates in India were revised on a daily basis transmitting even a minute’s variation in global oil prices to the public and dealers.

Contrary to it, he said, the petroleum prices in Pakistan were reviewed fortnightly with the government’s utmost efforts to bear the burden of upward fluctuation in the international market on its own, but sometimes a slight portion had to be passed on to the masses in an extremely compelling situation.

This also reflected for the current fortnight when Prime Minister Imran Khan rejected a summary of the Oil and Gas Regulatory Authority (OGRA) to increase the petroleum prices, saying the people must be given relief.

OGRA had proposed an increase of Rs 6.22 in the price of Motor Spirit Petrol, Rs 6.82 in the price of High-Speed Diesel, Rs 6.37 raise in the price of Kerosene Oil, and Rs 5.78 hike in Light Diesel Oil.

Answering a question, the official said the petroleum prices fixed by the PTI government were the lowest as compared to the previous two governments both in terms of lowest and highest prices.

APP