Gas is cheaper in Pakistan in comparison with India: Hammad Azhar

Federal Minister for Energy Hammad Azhar on Saturday stated  fuel is cheaper in Pakistan in comparison with India.

“Gas prices have risen in the UK and other countries, but not here [Pakistan],” Azhar stated   whereas talking on Geo News present  “Naya Pakistan”.

Addressing the backlash acquired on the federal government’s choice to extend petrol costs by Rs10.49, the minister stated the rise in petrol costs in Pakistan stems from the demand-supply disaster within the worldwide market, “not because of the International Monetary Fund (IMF)”.

“The petrol price has been increased on the recommendation of Oil and Gas Regulatory Authority (OGRA),” Azhar stated, including that the rise could also be kind of than the proposed value, however the Ministry of Finance “will know about the actual numbers”.

Shedding gentle on the criticism acquired over the federal government’s move the minister stated: “Increasing the prices of petroleum products is a most difficult task for the government.”

“The government is also bearing the burden of increasing petroleum prices of petroleum products,” he added.

It is pertinent to say right here that the federal government introduced a large value hike in petroleum merchandise, rising the per litre value of petrol by Rs10.49 and high-speed diesel by Rs12.44 for the following fortnight.

The minister underlined that the worth of petrol has gone up globally, and the “government’s capacity to provide relief in the prices of petroleum products is dwindling”.

Comparison costs with these in different international locations, Azhar stated that even in international locations the place there may be extra poverty than Pakistan, the worth of petrol is greater.

He stated that the incumbent authorities has decreased the petroleum levy from 30% to five.5%.