Afnan Ullah Khan, a senator for the Pakistan Muslim League Nawaz (PMLN), issued a warning on Monday that the price of gasoline might increase to Rs. 1,000 per litre.
During a meeting of the Senate Standing Committee on Petroleum, which was presided over by Senator Abdul Qadir, the senator made this assertion.
According to Khan, industry insiders worry that oil prices might rise to $390 per barrel on the world market. In Pakistan, the price of gasoline will reach $1,000 as a result, he continued.
In his remarks, Senator Taj Haider noted that since the price increase of petroleum goods, the use of gasoline has dropped by about 30%. He said that because gas is now so costly, many individuals have temporarily put their automobiles in storage.
The senator also brought up the fact that up to 30% of the natural gas generated in the nation is lost because of system leaks.
Ghiyas Abdullah Paracha, Chairman of the All Pakistan CNG Association (APCNGA), gave the committee an update on the country’s ongoing gas crisis. He said that by promoting CNG as a substitute fuel for cars, the nation’s severe balance of payments problem could be overcome.
He pleaded with the committee to take into account the urgent restoration of gas supplies to Punjab’s CNG stations, which had been in danger of closing since December of last year.
The committee suggested giving the nation’s compressed natural gas (CNG) industry at least 200 million cubic feet per day (MMCFD) of gas.
The committee members voiced their displeasure at the Minister of Petroleum’s and Secretary of Petroleum’s absence, claiming that their absence rendered the meeting pointless.
To read our blog on “A threat to shut down countrywide stations in protest by petroleum dealers,” click here.
