Pakistan’s Petroleum Minister Ali Pervaiz Malik has expressed hope that the public will receive good news about petrol prices today.
Speaking at a press conference alongside Information Minister Attaullah Tarar, he said global oil prices remained lower today.
Petroleum Minister Ali Pervaiz Malik has said the government is taking steps to protect people from high LPG prices and stop profiteering.
He said the Prime Minister has directed the government to protect people who are struggling with rising costs.
He added that some groups had taken advantage of public difficulties by making extra profits from LPG.
How will the government ensure gas supply?
The petroleum minister said the government is working to maintain gas supplies across the country during December and January.
He said Pakistan uses around 2.4 million tonnes of LPG every year. More than half of the country’s total LPG supply is imported.
Ali Pervaiz Malik added that the Prime Minister held a meeting on energy issues today.
He said the government is also working on a new energy security plan because proper LPG storage arrangements were not made in the past.
What steps will be taken to reduce LPG prices?
The minister said the government plans to increase competition in the LPG market and provide fuel at the lowest possible prices.
He added that the Pakistan State Oil (PSO) and Sui Southern Gas Company (SSGC) would help with bulk fuel purchases. Companies will also be directed to ensure transparent auctions of locally produced LPG.
The government is also opening LPG imports to competition. PSO, Sui Southern and Pakistan LNG Limited have been asked to import LPG.
Ali Pervaiz Malik said all companies will be required to publish their LPG prices on their websites so consumers can compare rates.
How will the government end the LPG market monopoly?
The petroleum minister said a small group had controlled the local LPG market for around 50 years.
He said the government plans to end this control and introduce a fair auction system for locally produced LPG. The move aims to increase competition and make LPG more affordable for consumers.
