Petroleum product prices expected to increase

ISLAMABAD: The federal government has presented a plan to increase the prices of imported petroleum products and RLNG in the wake of the closure of the Strait of Hormuz.

Under this plan, government meetings will be held virtually and in the first phase, the number of holidays will be increased on the lines of the procedure adopted during the Covid-19 pandemic.

It should be noted that the government has prepared a strategy consisting of the first, second and third phases in this regard and about three to four dozen proposals have been formulated in this regard, which will be presented to Prime Minister Shehbaz Sharif for final approval today, Friday, and the implementation of the approved measures will be started immediately.

Senior government sources told the media on Thursday that in the first phase, the government will implement these measures in the government sector, while in the second phase, a system of online assignments will be introduced in private schools, universities and hospitals. Along with this, the prices of petroleum products will also be increased weekly.

It should be noted that according to an official statement issued by the Ministry of Finance, a meeting of the committee formed by the Prime Minister to monitor petrol prices in view of the emerging situation in the region was held on Thursday at the Finance Division under the chairmanship of Federal Finance Minister Senator Muhammad Aurangzeb.