After federal ministers claimed the POL charges would doubtless be decreased within the subsequent fortnightly overview, the Oil and Gasoline Regulatory Authority (Ogra) Monday suggested towards speculating on the worth of petroleum merchandise.
Following the rupee’s positive factors towards the greenback, Caretaker Federal Commerce and Industries Minister Gohar Ejaz and Interim Federal Minister for Data and Broadcasting Murtaza Solangi mentioned final week that POL costs could be decreased.
Within the final 14 days, the rupee has gained round Rs16 towards the buck, prompting the claims, as Pakistan, being an importer of POL, purchases the commodity in {dollars}.
Within the earlier fortnightly overview, the caretaker authorities had jacked up the petrol worth by greater than Rs26 and diesel by over Rs17 per litre to Rs331.38 and Rs329.18, respectively — the best in historical past.
In response to the ministers’ claims, Ogra issued a press release saying: “[the authority] wish to emphasize the significance of avoiding speculations concerning the costs of petroleum merchandise.”
The authority talked about that petroleum product costs in Pakistan are primarily depending on worldwide market costs and the trade charge of the Greenback.
In current instances, it mentioned, there was a surge in worldwide petroleum costs, whereas the dollar-to-rupee trade charge has proven enchancment.
However, the authority mentioned, it’s important to spotlight that there’s nonetheless one week remaining earlier than the announcement of latest costs.
“Subsequently, any hypothesis about worth will increase or decreases throughout this era is extremely speculative and will doubtlessly disrupt the sleek functioning of the oil provide chain.”
