The Public Accounts Committee (PAC) has suggested a decrease in petroleum product prices to relieve people of their financial burden in the light of falling global oil prices. Petrol prices are falling on the international market, according to PAC Chairman Noor Alam Khan, who was presiding over the committee meeting.
“When the price is low in the world market, why it is not low in our country? When the price is higher in the world market, it goes up but does not go down.”
The chairman said that despite two global drops in oil prices, the administration hiked prices rather than lowering them. He asked the government and the Ministry of Finance to lower the price of petroleum products in order to relieve the suffering of the populace.
Sheikh Rohail, a committee member, claimed that although the price of oil has decreased by Rs 50 per liter globally, the International Monetary Fund (IMF) is urging the government to raise the sales tax.
Nisar Ahmed Cheema, a committee member, suggested that the rule be that the institution’s leader should have the meeting costs taken from his income if he or she chooses not to attend.
The SBP deputy governor was asked about his remuneration by the chairman, and he said that it was Rs2.5 million. He said, “I have a Honda Civic,” when asked about the vehicle.
The SBP governor’s and the Board of Directors’ salaries and benefits were specifically requested by the committee.
To read our blog on “Saudi oil facility allows Pakistan to import more than $300 million worth of petroleum,” click here.
