Oil companies and refineries have expressed concerns over falling petroleum prices

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Oil companies and refineries have expressed reservations over the decision to reduce the prices of petroleum products. An emergency meeting has been convened at OGRA, Dunya News reported. According to OGRA Chairman Masroor Khan, the meeting will be held today in which the heads of oil companies and oil refineries will participate.

Chairman OCAC, MD Parko, MD Pakistan Refinery Limited will be present. MDPSO, MD Shell, MD Total Parko will be attending the meeting. The issues that will arise will be discussed, the concerns of the oil companies and refineries on the reduction of prices will be considered, a meeting was called to remove the concerns of the oil companies.

The issues of ex-refinery price depot price and compensation to companies will also be discussed. The implementation of the Prime Minister's announcement was started. However, the Federal Ministry of Finance has issued a notification to reduce the prices of petroleum products from March 1. According to a statement issued by the Finance Ministry, the price of petrol has been reduced by Rs 10 to Rs 149.86 per liter.

The price of high speed diesel was also reduced by Rs 10, bringing the price to Rs 144.15 per liter. Kerosene was reduced by Rs 1 to Rs 125.56 while light speed diesel was reduced by Rs 5.66 to Rs 118.31. On Monday, Prime Minister Imran Khan addressed the nation. In a speech broadcast on national media, the Prime Minister announced a special package for the nation.

The Prime Minister said that I want to tell the nation that I know these are difficult situations, sometimes Pulwama, sometimes Korona and now Ukraine. The government gives a subsidy of Rs 70 billion every month. If we do not give subsidy, the price of petrol will go up to Rs 220. Even today petrol and diesel in Pakistan is cheaper than 25 countries in the world. In India, petrol costs Rs 260 per liter. Opposition says petrol has become more expensive. If they have a solution, let them know. The Prime Minister announced that it has been decided to reduce the price of petrol and diesel by Rs. 10 and electricity by Rs. 5 per unit. Prices of petroleum products and electricity will not increase till the next budget.

Location: Pakistan

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