The opposition in the National Assembly slammed sharp increase in petroleum prices while the government defended the decision which it said was warranted by fluctuation in international oil market.
At the very outset of the proceedings, opposition lawmaker Shahid Khatak demanded suspension of question hour to discuss hike in petroleum prices, with many other members of the House supporting the view and subsequently the question hour was suspended.
Petroleum Minister Ali Pervaiz Malik told the House that oil prices substantially increased in the global market after the US-Israeli war against Iran, but the government bore the burden of rising oil prices for three weeks, coming to Rs50-60 billion per week.
He said the national leadership, in consultation with the provinces, decided to increase petroleum prices while providing targeted subsidies to vulnerable segments of society.
The minister said the country meets 80 to 90 per cent of its petroleum demand through imports. He said the war in the Middle East has adversely affected global energy supply chains.
He further said the government has ensured an uninterrupted supply of petroleum products by using alternative routes. He said Pakistan is now importing oil via the Yanbu port in Saudi Arabia and Fujairah port in the UAE through Oman. He said the cost of insurance and transportation has also gone up because of the war.He said while the high price of oil was a challenge, there was no shortage of petroleum products in the country.
Fertiliser stocks
Regarding fertiliser availability, Ali Pervaiz Malik said an uninterrupted gas supply was being ensured to all 10 fertiliser factories. He said the prime minister has issued directives to maintain fertiliser availability at Rs4,500 per bag. Briefing the House on the targeted subsidy, the minister said millions of rupees were being disbursed to motorcyclists, passengers, goods transporters, and farmers through digital wallets. He asked members to check their mobile phones for crude oil prices, saying crude oil had gone from $70 to $170. PTI’s parliamentary leader Shahid Khattak raised the issue of increase in petroleum prices.
Speaker Ayaz Sadiq allowed the opposition member to speak on the issue. JUI’s Noor Alam Khan also raised the issue, asking the finance minister to explain why petroleum prices were increased if the economy was growing. MQM’s Aminul Haque demanded a discussion on the issue.
