Petroleum Levy Matter Beyond My Control, Changes Require Global Consultations; Daily Price Adjustments Prevent Large-Scale Hoarding, Says Minister Ali Pervaiz Malik
ISLAMABAD: Federal Minister for Petroleum Ali Pervaiz Malik has clarified that petroleum levies is not in his control and any changes to the levy will be done after consultation with international partners.At a meeting of the Standing Committee on Petroleum of the National Assembly, the Federal Minister answered the questions of the members of the Standing Committee on Petroleum on the application of petroleum and diesel levies.
When the committee member Asad Alam Niazi questioned the Minister about the stonewalling of fuel levies, the Minister Ali Pervaiz Malik pointed out that the stonewalling targets have been set in the national budget and had been supported and approved by all the MNAs.
However, he said the changes to the framework will need more alignment between the international community in general.In response to the question of committee member Syed Naveed Qamar about the reason petroleum products are not completely deregulated to avoid the government from being subjected to public scrutiny, the minister said that at present the price of petroleum products was being adjusted on a rolling basis by OGRA.
Prevention of Mass Hoarding: The Petroleum Minister said that high-speed diesel may rise sharply under the fully regulated situations in cases of anomalies, and when there is no dynamic pricing, there will be an extensive hoarding in the market.