Lack of planning on petroleum products is evidence of past rulers incompetence: PM

Prime Minister Imran Khan says the lack of comprehensive planning on petroleum products is evidence of past rulers' disqualification and the cost of this criminal neglect by the past governments at the administrative level.

The meeting was chaired by Prime Minister Imran Khan regarding the factors driving the pricing of petroleum products, the current methodology and the reduction of prices under a systematic and comprehensive strategy in this regard.

The meeting was attended by Energy Minister Omar Ayub, Minister for Planning Asad Omar, Assistant Special Minister for Petroleum Nadeem Babar and senior officers.

At the meeting, the Prime Minister was given a detailed briefing on various factors and costs imposed on the import of petroleum products and their prices.

During the briefing, the Prime Minister was informed that neither the previous governments have adopted the proper strategy in regard to the demand for petroleum products nor to take any appropriate measures to reduce the delivery and other miscellaneous expenses. Which, in turn, has resulted in an increase in the prices of petroleum products and an additional burden on the public.

Imran Khan expressed deep concern over the fact that every section of the public has paid the price for this criminal neglect by the previous governments at the administrative level.

He said that giving priority to timely and short-term arrangements to meet the overall needs of the country with regard to petroleum products and lack of comprehensive planning in this regard is, in fact, evidence of past rulers' inability.

The Prime Minister directed that comprehensive coordination and coordination of all relevant departments be adopted to meet the future needs keeping in view the domestic needs and growth rate so as to reduce possible delivery and miscellaneous costs. And bring potential relief to the public.

It should be noted that the government has reduced the prices of petroleum products by Rs 7 for the current month.

In view of the 20% drop in oil prices in the global market, prices of petroleum products were likely to drop significantly in March.

On the contrary, the Ministry of Finance and the Federal Board of Revenue (FBR) had vigorously tried to reduce the OGRA estimate by only half the cost to consumers and the remaining amount as an unexpected benefit by increasing the tax rate. Keep to yourself

An official said the finance ministry wants to cover revenue losses from lower import prices of crude oil and petroleum products and the overall shortfall of revenue in the first 8 months of the current fiscal year.