PML-N, MQM oppose likely POL price hike

ISLAMABAD: Pakistan Muslim League-N and Muttahida Qaumi Movement have categorically said that any rise in prices of petroleum products would be unacceptable and urged the government to curtail its expenditures and losses, Geo News reported Thursday.

Talking to media men following the meeting of Parliamentary Committee on Petroleum, PML-N leader Sardar Mehtab Abbasi and MQM’s Sohail Mansoor called upon the government to cut down its expenditures and minimize losses.

Federal Minister for Petroleum Naveed Qamar said duty on refineries would not be withdrawn unless circular debt is cleared.

“The deficit will continue to rise and rupee will devalue more unless prices of petroleum products are raised,” he argued.

He said further decline in rupee value means purchasing the imported oil at higher rates.

The next meeting of the committee will be held on Monday.